OneRoof Energy secures US$58 million fund

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Residential PV services provider OneRoof Energy, a subsidiary of OneRoof Energy Group, has reached a deal with a third-party securing equity for a US$58 million residential PV financing fund.

The fund will be used to help aid an estimated portfolio of over 2,000 residential PV power purchase agreements (PPA) that are expected to be orginiated over the next 12 months in California, New York, Hawaii and Massachusetts.

Dale A. Vander Woude, executive vice president of capital markets for OneRoof Energy, said: “We are committed to expanding solar solutions to more homeowners. This new financing partnership enables us to provide a significantly more efficient sales and installation process by simplifying the financing and equipment requirements.”

Vander Woude added: “One of the many benefits of this new residential solar fund is attracting additional sales channel partners by providing new sources of capital and increasing their sales capacity.”

OneRoof Energy expects the fund will be completely utilized within 12 months.

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