Solar power company SunLink announced Wednesday that it has agreed to a financial deal with Heritage Bank of Commerce to provide an expanded line of credit and other financial services in an effort to spur expansion.
As part of the deal, Heritage Bank of Commerce will provide US$10 million to SunLink.
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
Michael Maulick, CEO of SunLink, noted: “SunLink’s business is accelerating on every front, and we needed a financial partner able to support that sort of rapid, multi-faceted growth. We’re simultaneously delivering hundreds more MWs of tracker and other mounting systems for utility-scale solar projects worldwide, scaling our PowerCare services division to better serve the needs of the C&I market, and continuing to invest in the development of our VERTEX software as the platform with the potential to transform the economics of the entire energy industry. Heritage Bank of Commerce is a financial institution that understands the needs of a high-growth company and sees the potential of the energy future toward which we are driving.”
Mike Hansen, senior vice president of corporate finance at Heritage Bank of Commerce, noted: “We are very pleased to be working with SunLink. We feel our line of credit will assist with their capital needs as they continue to grow and we look forward to a successful partnership.”
