One of America’s leading solar energy distributors, Vivint Solar, announced on Monday that it had secured $200 million in tax equity investments from three investors for investment in solar projects worth a total of $480 million.
Vivint Solar has had a better-than-expected year this year, closing numerous financing agreements, expanding its services into Texas, and yielding comfortable second quarter financial results — all this, despite facing the unceremonious cancellation of its acquisition agreement with now-bankrupt SunEdison.
Before the year closes out, Vivint Solar was able to continue this run with another financing agreement, this time $200 million in a series of tax equity investments from three separate investors, which together will support investments in solar projects worth a total value of over $480 million, and enable the installation of approximately 123 MW of residential solar. Specifically, the new round of funding will enable Vivint Solar the opportunity to design, procure, and build low-cost solar energy systems for more than 17,000 new residential customers.
“We are very pleased to announce ongoing support from our capital partners,” said Thomas Plagemann, chief commercial officer and head of capital markets for Vivint Solar. “This announcement demonstrates Vivint Solar’s ability to raise financing to enable our continued growth and demonstrates the confidence investors have in the company’s future.”