US
SolarCity, Rabobank extend collaboration with $42.5 million for solar
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15 Mar 2012
- Published on Thursday, 15 March 2012 19:26
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By Katrice R. Jalbuena
SolarCity, which installs and maintains solar projects for residential, business and government customers, and financial services company Rabobank are providing a $42.5 million fund for solar projects in California. The two will fund over 30 commercial solar projects, the continuation of an earlier partnership that has seen solar projects installed to power electric vehicles in Los Angeles and San Francisco and at Rabobank branches in California. "We can allow many businesses to install solar panels for free, and pay less for solar electricity than they pay for utility power," said Lyndon Rive, chief executive of SolarCity. "With the help of strong partners like Rabobank, we're allowing businesses to generate their own clean power and improve their bottom lines at the same time." In February, SolarCity was able to raise $81 million in growth capital from Silver lake Kraftwerk, Valor Equity Partners and Shea Ventures to allow it to expand its sales, marketing and operations, technology development and potential acquisitions. Founded in 2006, SolarCity has more than 20,000 projects completed or underway in Arizona, California, Colorado, Connecticut, Delaware, Hawaii, Maryland, Massachusetts, New Jersey, New York, Oregon, Pensylvania, Texas, Washington and Washington D.C. – EcoSeed Staff
