$200mm for Solar Rooftops
Recurrent Energy announced the close of a $200mm solar project fund today. The fund represents a commitment by Morgan Stanley to provide financing for $100mm of Recurrent Energy's solar electric power projects in 2008 and an additional $100mm in 2009.
We're very excited about the news because of the size of the fund--and because we're the only new entrant in the solar services field to have reached this milestone. We've been working on putting the fund together for some time now and settled on working with Morgan Stanley a little earlier this year.
But best of all, with the fund in place we can offer our customers and partners the added certainty of knowing we have capital lined up--with a leading investment bank--to offer PPA financing for solar power projects.
Congratulations upon achieving your
new funding. We believe your Systems Operation, Monitoring & Maintenance resources will be the key to your success.
We are focused on creating the next generation monitoring and diagnostic system for PV performance and believe a truly effective monitoring and diagnostic system IS the core requirement for a PPA contractor.
We rolled out part of our IP in the form of a free public service--at www.pvperformance.com.
We like to invite all serious PV
practioners to visit it and give us a critique. We intent to evolve it into a truly useful tool for an
instant checkup on any PV system.
Posted by: Steve Yang, P.E. | 04 January 2008 at 03:01 AM