SolarWorld taps REC Solar/Duke Energy project financing for solar installers

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SolarWorld said that the partnership program was designed to accelerate development of commercial PV projects of between 50kW and 2MW.

Integrated PV module manufacturer SolarWorld is offering US solar installers commercial project funding resources amounting to US$225 million, guaranteed by REC Solar majority-owner Duke Energy, in California, Hawaii and the Northeast states of Maryland, Massachusetts, New Jersey and New York.

SolarWorld said that the partnership program was designed to accelerate development of commercial PV projects of between 50kW and 2MW by streamlining credit underwriting, contracting, procurement and financing processes, a perennial problem in the US commercial rooftop sector that has slowed development, compared to residential and utility markets.

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