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Solar Power Partners Raises $6 M in Series A Funding
September 21, 2007
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Investment round led by Globespan Capital Partners fuels nationwide operations expansion in rapidly growing commercial solar PPA market.
Mill Valley, California [RenewableEnergyAccess.com] Solar Power Partners (SPP) today announced that it has secured $6 million in Series A funding led by Globespan Capital Partners. The Series A funds will be used to expand business operations and accelerate sales and marketing of commercial Power Purchase Agreement (PPA) solutions in partnership with leading solar integrators in selected U.S. markets. The funds complement SPP's separate solar project financing funds. Solar Power Partners has to date signed 47 solar PPA projects nationwide representing 14 MW of clean energy generating capacity including clients such as the largest grocery store chain in America, a 50 kW boutique winery, a top California university, a global internet backbone operator, a 1.2 MW water district, a detention center, and several Fortune 1000 manufacturing facilities. Originally focused on the California and Hawaii markets, SPP has several MW of new projects slated for closure shortly in the Northeast U.S.
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