Merger Forms Solar Finance and Installation Company

Even with a patchwork of helpful incentives scattered throughout the U.S., and now federal rebates available beginning January, financing for solar projects can still be challenge since these projects are outside the usual comfort zone of most financial institutions. Based on this reality, a new merger aims to streamline the process by combining a solar installation company with a finance arm.

Sun Edison LLC and New Vision Technologies Inc. signed definitive agreements to merge, forming what they’re describing as the nation’s largest solar finance and installation company. The combined company, named Sun Edison, LLC will continue its mission to support large commercial solar PV systems. The long-term goal of the merged company is to be the largest owner/operator of solar systems in the US, providing competitively priced power to its customers at prices at or below utility prices. “By integrating design, engineering and construction with our project finance capabilities and large pipeline of projects awaiting construction, SunEdison will now be able to more rapidly and more effectively meet our customer’s needs,” said Jigar Shah, CEO of Sun Edison LLC. Brian Jacolick, CEO of New Vision Technologies, said his company has considerable solar experience, having installed over 10 MW of solar PV systems, with over 150 of these considered commercial in scale. The combined company will have a national contracting capability with operations in AZ, CA, CO, CT, HI, MD, NC, NJ, and NV.
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