Solyndra closes US$75 million credit facility, restructures outstanding indebtedness

March 2, 2011
Facebook
Twitter
LinkedIn
Reddit
Email

Solyndra has recently closed on its new US$75 million in secured credit facility, which was underwritten by current investors. The company stated that the financing will go towards furthering its pursuit of cost reductions and implementing its channel expansion, segment sales and marketing stratagems.

“Solyndra has excellent marketplace momentum, with record installations of our product in the fourth quarter and annual revenues exceeding US$140 million last year,” said Brian Harrison, Solyndra’s president and CEO. “With strong acceptance of our 200 Series product, we are seeing growth in the U.S. and markets throughout Europe. We have recently reached a number of significant milestones, including the shipment of nearly 100MW of panels, the completion of more than 1,000 installations in 20 countries and the announcement of our PV greenhouse solution.”

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

The financing also came with plans to restructure Solyndra’s remaining indebtedness. Its convertible notes have been exchanged for new notes and the U.S. Depart of Energy, which approved a loan guarantee, agreed to particular loan modifications including an extension of the amortization period. Along with the remaining indebtedness, the new credit facility is secured by all of Solyndra’s assets.

Read Next

December 8, 2025
Norwegian renewable energy firm Scatec has signed equity deals for a massive solar-plus-storage project in Egypt and begun operations at a site in South Africa.
December 8, 2025
The Colombian government has created Gecelca Solar, a solar PV-focused arm of its public utility company Gecelca.
December 8, 2025
Proper training and adherence to best field practices are necessary to halt the steady trend of PV connector failures resulting from poor workmanship, write Brian Mills and Grayson Maurer.
December 8, 2025
Swedish independent power producer (IPP) Alight Energy has commissioned a 215MW agrivoltaics project in Denmark.
December 8, 2025
Spanish IPP Zelestra has signed an agreement to sell its 3.5GW Latin America renewables platform to Colombian natural gas firm Promigas.
December 5, 2025
BayWa r.e. has sold two of its UK solar farms, which have a combined capacity of 89.9MW, to global asset management firm Capital Dynamics

Upcoming Events

Upcoming Webinars
December 17, 2025
2pm GMT / 3pm CET
Solar Media Events
February 3, 2026
London, UK
Solar Media Events
March 24, 2026
Dallas, Texas
Solar Media Events
April 15, 2026
Milan, Italy
Solar Media Events
June 16, 2026
Napa, USA