Premier grows a $12 million credit line and 1MW of production

July 15, 2009
Facebook
Twitter
LinkedIn
Reddit
Email

Premier Power Renewable Energy, Inc., solar power systems manufacturer for the U.S. and Europe, and Umpqua Bank have entered into a credit and finance agreement. Premier Power is now able to borrow a $7 million line of credit for general working capital needs, which may increase to up to $12 million depending upon Premier Power’s acquisitions.

“We are pleased to be partnering with Premier Power, a leader in the clean-tech industry,” said Ray Davis, CEO of Umpqua Bank. “Our lending commitment to Premier Power allows us to continue to expand our eco-banking initiatives … and this relationship demonstrates our ongoing commitment to support environmentally sustainable projects.”

This article requires Premium SubscriptionBasic (FREE) Subscription

Try Premium for just $1

  • Full premium access for the first month at only $1
  • Converts to an annual rate after 30 days unless cancelled
  • Cancel anytime during the trial period

Premium Benefits

  • Expert industry analysis and interviews
  • Digital access to PV Tech Power journal
  • Exclusive event discounts

Or get the full Premium subscription right away

Or continue reading this article for free

“We are very pleased to begin a new relationship with Umpqua Bank and establish this new credit facility, which will provide additional liquidity to support the significant growth opportunities we see ahead,” said Dean Marks, chief executive officer of Premier Power.

In June alone, Premier gained contracts for 1MW of commercial rooftop installations, using crystalline modules provided by General Electric and cylindrical thin-film modules provided by Solyndra. In addition to capitalizing on the remaining 40% solar energy targets in the Spanish market, Premier Power has acquired Arco Energy and is continuing to expand throughout Europe.

Read Next

October 15, 2025
Wood Mackenzie has warned of a supply bottleneck as the renewable energy shift drives a spike in global copper demand over the next decade.
October 15, 2025
The average price of a solar PPA signed in North America increased 4% between the second and third quarters of 2025, according to LevelTen.
October 15, 2025
A report by IRENA and others has highlighted the need for yearly renewable energy deployments to almost double between now and 2030.
October 15, 2025
Independent power producer (IPP) Geronimo has begun construction on it’s150MW solar project in Illinois and commissioned the 125MW PV project in Michigan.
October 15, 2025
Ciel & Terre has launched a new floating PV structure designed to address the increasingly large scale of floating solar projects.
October 15, 2025
Indian module manufacturer Saatvik Green Energy, through its subsidiary Saatvik Solar Industries, has secured solar PV module orders worth INR6.89 billion (US$78 million).

Subscribe to Newsletter

Upcoming Events

Solar Media Events
October 21, 2025
New York, USA
Solar Media Events
November 25, 2025
Warsaw, Poland
Solar Media Events
December 2, 2025
Málaga, Spain
Solar Media Events
February 3, 2026
London, UK