Borrego secures new round of funding

Solar companies secure funding to develop projects in California, Massachusetts

15.02.2012: US photovoltaic (PV) company Borrego Solar Systems announced earlier this week that it secured a new $47 million fund with US Bank and East West Bank that will enable the company to install a total of 6 MW of solar capacity in California and Massachusetts. In a separate development earlier this week, Hong Kong-based polysilicon and wafer supplier GCL-Poly Energy Holdings Ltd. revealed that Bank of America Merrill Lynch (BofA Merrill) agreed to finance the construction of 15 solar projects in California with a combined capacity of 5 MW. The projects will be developed by GCL-Poly’s US subsidiary GCL Solar Energy Inc. GCL-Poly and BofA Merrill expect this initial agreement to lead to a long-term financing relationship. … Source: GCL-Poly, MarketWatch; Summary: PHOTON http://www.marketwatch.com/story/borrego-solar-secures-47-million-from -us-bank-and-east-west-bank-for-solar-energy-projects-2012-02-14?refli nk=MW_news_stmp http://www.gcl-poly.com.hk/attachment/2012021320472217_en.pdf The complete press release can be viewed in PHOTON's archive using the following link: http://www.photon-international.com/newsletter/document/60882.pdf

 

 

Monty Bannerman

ArcStar Energy

646.402.5076

www.arcstarenergy.com