SolarCity Creates New Fund to Finance $249 Million in Solar Projects
SolarCity Corporation (SCTY) has created a new tax equity fund to finance US$249 million in solar projects.
SolarCity’s financing partner in the fund—a Fortune 100 company—was not disclosed. This is the fourth solar project fund the two companies have partnered to create.
After it is fully allocated, the fund can be doubled in size to finance a total of US$498 million in solar projects. The fund covers the capital cost of solar equipment and installation, making it possible for many homeowners to pay less for the power the systems produce than they pay for electricity from the local utility.
Radford Small, SolarCity’s Executive Vice President, Capital Markets, stated:
“SolarCity has now created 50 project funds with 21 different financing partners. Distributed solar’s unique combination of strong returns and societal benefits has attracted a range of corporate and institutional investors and enabled hundreds of thousands of homeowners and businesses to pay less for power generated by solar panels than they pay for power from utilities.”
Country news
-
-
March 02, 2016
Engie sells 13 GW of power assets and acquires OpTerra
ENGIE has achieved a major step in the implementation of its transformation plan to redesign and simplify its portfolio, by acquiring OpTerra in energy services and selling 13 GW of power generation assets, of which 10 GW exposed to commodity prices in the United States and two coal-fired power plants (3 GW2) located in India and Indonesia. Read more -
March 01, 2016
Invenergy announces new SVP of New Ventures and Corporate Affairs
Invenergy has announced that Amy Francetic has been hired as Senior Vice President, New Ventures and Corporate Affairs. Read more -
March 01, 2016
SolarReserve to get tax-equity investors for CSP plant in Nevada
SolarReserve is set to receive tax-equity investment to carry out the 110-MW Crescent Dunes concentrated solar power (CSP) project in Nevada, USA. Read more -
February 26, 2016
Axion seeks IFC financing for Campana refinery expansion
Axion Energy Argentina is seeking project financing from the International Finance Corporation (IFC) to carry out a project to expand at its Campana Refinery. Read more -
February 26, 2016
EDF Energies Nouvelles commissions a new generation storage system in the United States
EDF Renewable Energy, the North American subsidiary of EDF Energies Nouvelles, has announced the commissioning of an innovative storage system combining battery energy storage and computerized control system. Read more
