Borrego Solar Systems, Inc., a designer and installer of solar power systems, has secured $14 million in venture financing to fuel a geographic expansion and to support its next phase of corporate growth.
The company will use the round of financing to expand its commercial and government design and installation operations into the Mid-Atlantic Region and to develop new low-cost integration solutions which will reduce overall system cost and ultimately speed return on investment for its customers.
Aaron Hall, CEO of Borrego Solar, said, “We believe we have only scratched the surface of the company’s and the market’s potential."
Borrego Solar closed 2008 with $60 million in revenue and more than $90 million in contracts, making it one of the country’s fastest growing solar companies. The company was the eleventh fastest growing private energy company according to Inc Magazine and #261 overall. Borrego has installed major systems on schools, affordable housing communities, grocery and retail businesses, and town and municipal facilities throughout California and New England.
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