Brightergy is increasing its presence in the North American solar market by opening a new office in Boston. To help fund this new site and its expanding product portfolio, the company has secured financial backing from Trinity Private Equity Group.
Trinity is investing US$2.5 million into Brightergy's parent company and also contributing towards a commercial project finance fund. Through the fund, Brightergy hopes to raise US$40 million and establish a portfolio of medium-sized commercial projects (200kW-1MW) throughout Massachusetts.
In addition, the investment will allow Brightergy to offer its own solar financing programmes – which range from US$0 down ownership to solar leases and power purchase agreements – to commercial customers in the state.
“We see a strong demand in the market to provide financing for smaller commercial solar projects because most financiers focus on larger multi-MW projects,” said Brightergy CEO Adam Blake. “We are really excited to bring Brightergy to Massachusetts. Massachusetts is a very progressive energy market with a growing demand for clean solar energy.”