Solar Power Partners, Inc. (SPP), a solar energy services provider, announced it has closed nearly $100 million of equity and debt financing to date. Additionally, SPP expects to close an additional $60 million in committed project financing in 2008.
These additional funds will be used for development of solar energy facilities and associated asset management services, the company said.
SPP’s investors and lenders include: United Commercial Bank, Globespan Capital Partners, The Enlightened World Foundation, Carrelton Asset Management, Dry Creek Ventures, Silicon Valley Technology Group, and most recently, Energy Investors Funds, a leading private equity investor in the US power market, among others. Proceeds from the various financings are for nationwide corporate expansion, project development, and equity participation in SPP’s proprietary special purpose vehicle solar energy funds.
About Solar Power Partners, Inc.
Solar Power Partners, Inc. (SPP) is a California based renewable energy company that combines in-house solar experience, best-of-breed technologies and best practices of top solar and building industry professionals with the financing strength of Power Purchase Agreements (PPA) and project financing expertise to give building owners a clear path to achieving energy independence at predictable rates and without the risks or costs of owning and maintaining solar energy facilities.
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