Thursday, March 29, 2012
WASHINGTON, March 29, 2012 /PRNewswire/ -- Less than six months after the launch of SolMarket, Sol Systems is proud to announce a number of successes driving the growth of its innovative solar financing community. In the last 60 days over 4 MW of solar projects seeking investment through the SolMarket community have been financed by SolMarket investors and others. The projects range in size from 100 kW to 1.5 MW. Additionally, another 9 projects ranging from 200 kW to 5 MW with a combined capacity of 10 MW are either under exclusive negotiation or at term sheet with SolMarket investors.
"The expansion of the SolMarket community is really exciting," said Yuri Horwitz, Sol Systems' CEO. "In the short time since we launched, we have seen over 250 projects utilize SolMarket to secure financing. And as the reputation of this community grows, so does the scale and quality of the projects we assist. Leveraging this deal flow with our data driven approach and our diligence and advisory services means that SolMarket investors see more projects they like, and they see them more quickly, ultimately saving both time and money. It also means that we can quickly connect our developer partners with appropriate and experienced investors in the space."
The SolMarket investor network also continues to grow. There are currently 18 investors with aggregate committed funds of $1.9 billion in the network. These investors include energy suppliers, family funds, private equity, solar funds and larger solar companies with financing arms. All of the investors have experience with financing commercial solar projects in the U.S. and are actively looking to expand their portfolios over the next 12 months.
SolMarket is a transaction-driven ecosystem for the solar industry that catalyzes investment in solar energy by transforming how solar projects are financed. SolMarket provides investors and developers with the tools they need to efficiently originate, evaluate, finance, and construct renewable energy projects. SolMarket has over $1.9 billion in committed partnership funds seeking qualified solar projects and hundreds of users from the solar community. SolMarket is a wholly owned subsidiary of Sol Systems, the country's oldest and largest SREC aggregator. Sol Systems has facilitated over $100 million in solar development through long term SREC financing. For more information, please visit www.solmarket.com.
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