Vivint Solar: Tax equity investment fund
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LEHI, Utah -- Vivint Solar (NYSE: VSLR), a leading provider of distributed solar energy systems in the United States, announced it closed a tax equity investment fund with a new investor, with an aggregate funding commitment of $75 million, which will enable the company to install more than 45 megawatts of residential solar energy systems.
"We are very pleased to announce this new tax equity partnership," said Thomas Plagemann, Executive Vice President and Head of Capital Markets for Vivint Solar. "This investment fund demonstrates our continued ability to raise critical financing and the confidence of new investors to partner with Vivint Solar as a leading provider of residential solar in the United States."
This is Vivint Solar's first investment fund with this tax equity investor, which will enable the company to design, procure, and build low-cost, clean solar energy systems for more than 7,200 new residential customers.
Vivint Solar currently operates in Arizona, California, Connecticut, Hawaii, Maryland, Massachusetts, New Jersey, New Mexico, New York, Pennsylvania, South Carolina, and Utah. For more information, visit www.vivintsolar.com.
About Vivint Solar
Vivint Solar is a leading provider of distributed solar energy – electricity generated by a solar energy system installed at a customer's location – to residential customers in the United States. Vivint Solar's customers pay little to no money upfront, receive significant savings relative to utility generated electricity and continue to benefit from guaranteed energy prices over the 20-year term of their contracts. Vivint Solar finances, designs, installs, monitors and services the solar energy systems for its customers. For more information, visit www.vivintsolar.com