SPG Holdings has closed a $13 million equity financing through the Global Environment Fund and Robeco. SPG Holdings includes systems integrator SPG Solar and solar product designer/manufacturer Thompson Technologies Industries.
SPG Holdings said it plans to use the funds to support growth, both nationally and internationally, allowing it to secure the appropriate level of materials and resources to support its development goals. The near-term plans include expansion throughout the United States; the infusion of capital provides greater ability to respond to the growing opportunities.
“The solar industry appears to be on the verge of its largest growth cycle,” said Thomas Rooney (pictured), CEO of SPG Solar, who joined the company in May. “We want to capture that growth and expand SPG Holdings along with it. When we look back 10 years from now, we’ll likely see growth that will have eclipsed the advances of the last eight years. With a pro-solar administration in Washington and new markets emerging worldwide, the expansion opportunity for solar energy is favorable.”
“This is a great opportunity for SPG Holdings,” added Dan Thompson, founder/chairman of SPG Solar. “Both SPG Solar and Thompson Technologies now have the ability to do multiple large-scale projects.”
Recent projects completed by SPG Solar include a 22.5KW system at the Marine Mammal Center in Sausalito, CA; a 132-KW array featuring Solyndra tubular CIGS PV modules installed on a cinema rooftop in Livermore, CA; and the first of seven PV systems totaling almost 1MW for the city of Tucson, AZ.