Having already successfully developed solar parks in Italy and plans within other European countries, Silfab is expanding into the U.S. market by forming a joint venture with REgeneration Finance LLC., a solar project developer with offices in Harrison, NY and San Francisco, California, via Silfab’s U.S. subsidiary. Silfab will invest an unspecified amount into a REgeneration affiliate to support finance requirements for commercial and utility-scale solar projects. The joint venture will ultimately own these projects, according to Silfab.
Lorrie Friedman REgeneration’s CEO said, “Silfab has over 60MW of utility scale projects under development in key southern European markets, and whose founders, Franco Traverso (an Italian pioneer in the solar energy industry), Pan Asia Solar Ltd. and Sino-American-Silicon Products Inc. have an unmatched record of building successful solar energy companies – we can think of no better partner to work with to take advantage of the coming boom of US solar activity.”
The initial focus is to structure and provide construction, debt and related equity financing to large scale distributive generation projects throughout the United States. Coltin Securities LLC acted as financial advisor to REgeneration in the transaction.