California, United States [RenewableEnergyWorld.com] Solar Power Partners Inc. (SPP) announced that it has closed approximately US $100 million of equity and debt financing to date. Additionally, SPP expects to close an additional US $60 million in committed project financing in 2008.
These additional funds will be used for development of solar energy facilities and associated asset management services, the company said. Proceeds from all of the financing rounds included in the US $100 million are to be used for nationwide corporate expansion, project development, and equity participation in SPP’s special purpose vehicle solar energy funds.
SPP’s investors and lenders include: United Commercial Bank, Globespan Capital Partners, The Enlightened World Foundation, Carrelton Asset Management, Dry Creek Ventures, Silicon Valley Technology Group, and most recently, Energy Investors Funds, a private equity investor in the U.S. power market, among others.