US Solar Fund increases equity raise to US$132m

New Energy Solar's US Solar Fund has raised US$132 million from new and existing investors, exceeding its original US$105 million fundraising target. Taking into account the company’s proposed use of proceeds, it decided to increase the target size.

The latest event marks the first US Solar Fund fundraising since its initial public offering two years ago, which raised US$200 million.

The raised capital will be used for refinancing, debt repayment, working capital purposes, and investment opportunities.