The investment commitment is expected to allow Vivint Solar to design and build low-cost, clean energy systems for more than 8,000 new residential customers. Image: Vivint Solar
Vivint Solar has received commitments for an additional US$100 million of tax equity financing, which will allow it to install more than 55MW of residential solar energy systems.
This tax equity commitment comes from RBC Capital Markets and co-investors arranged by RBC's Tax Credit Equity Group. The investment commitment is expected to allow Vivint Solar to design and build low-cost, clean energy systems for more than 8,000 new residential customers.
David Bywater, CEO of Vivint Solar, said: "We believe this tax equity raise, along with the recent US$360 million multi-party forward flow funding arrangement, reflects the capital markets' and our investors' continued confidence in Vivint Solar's sustainable growth model. We are committed to not only delivering results to our investors but also helping more homeowners access our solar energy systems."
Julian Torres, a director at RBC, added: "Vivint Solar has a leading residential solar platform that we are pleased to support with our tax equity capital alongside that of our co-investors. This transaction is a credit to the teamwork across the RBC platform and highlights our unique capabilities of direct investing in and syndication of renewable energy tax credits."
Following the successful launch of Energy Storage Summit USA, we are pleased to announce its return for a 2nd year. Renowned for its quality, breadth and expertise, this event features an all-encompassing range of strategic and technical sessions on the adoption and deployment of storage. Key market drivers such as the falling price of lithium-ion batteries, investment in electric vehicle infrastructure, FERC Order 841, government incentives, grid modernization, transition from dependency on the networks to a desire for autonomy and intermittent renewable sources, all add to an exciting time for the Energy Storage value chain.
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