Vivint Solar secures $100 million in tax equity

Vivint Solar secured tax equity commitments totaling $100 million from two repeat investors. These tax equity commitments will enable the company to install an estimated 70 megawatts of residential solar energy systems.

“Our capital partners play an essential role in enabling us to grow our residential solar business,” said Stewart Bewley, vice president of capital markets at Vivint Solar. “We are pleased to continue raising project capital from our investor partners and look forward to expanding access to our solar energy systems.”

This funding is expected to enable the company to design, procure and build low-cost, clean solar energy systems for approximately 10,000 new residential customers.

“We’re pleased that our investors continue to trust us with their capital options,” said David Bywater, CEO of Vivint Solar. “This financing reinforces our commitment to achieve sustainable growth and continue to deliver results to Vivint Solar and our investors.”

Vivint Solar operates in 16 states (Arizona, California, Connecticut, Florida, Hawaii, Maryland, Massachusetts, New Hampshire, New Jersey, New Mexico, New York, Pennsylvania, Rhode Island, South Carolina, Texas and Utah) and Washington, D.C.

Here’s residential solar’s share of distributed PV generating capacity

— Solar Builder magazine

[source: http://solarbuildermag.com/news/vivint-solar-secures-100-million-in-tax-equity/]