OneRoof Energy announced today that South Korea's Hanwha Group invested an additional $30 million in its company to help OneRoof expand into new markets, develop new proprietary technologies and strengthen dealer support. Hanwha Group was among the first investors of OneRoof Energy's Series A funding in 2011.
OneRoof is a solar leasing company that allows homeowners to go solar at little or no upfront cost. The company installs, maintains and owns the entire solar system and sells the power it generates back to the homeowners, who realize a 5-25 percent savings over their utility bills, according to the company.
“Since the closing of our first fund in September 2011, OneRoof Energy has signed solar agreements totaling over $100 million. This year we are projecting sales of more than $300 million of solar electric financing," said CEO David Field in a statement.
Hanwha, owner of solar-panel manufacturer Hanwha SolarOne Co., took an $8 million stake in OneRoof in 2011 and has continued to invest in the company over the past year. Hanwha is one of the largest business enterprises in South Korea and a FORTUNE Global 500 company, according to the company. Commenting on the deal, Hanwha International CEO Simon Lee said, “Hanwha's benchmark investment in 2011, combined with additional investments since that time, demonstrates our full confidence in the significant growth potential of OneRoof Energy’s business model. OneRoof Energy is on course to become one of the nation's premier solar finance companies.”
David Field, CEO of OneRoof Energy is one of the keynote speakers at next month's Solar POWER-GEN conference. In addition, Field will be participating on a panel on the second day of the show that specifically addresses strategic investing in the solar industry. Hanwha Solar's Henry Yun will also be participating on the panel. Click here for more information or to register for the show.
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