Open Energy loans USD 1.2m to solar fund
January 14 – Solar debt finance provider Open Energy today announced the closing of a USD-1.2-million (EUR 1.1m) loan to SunLight General Solar Fund III.
The New York City based investment fund, which invests in distributed generation solar projects, received a hybrid term and construction loan for four commercial solar projects.
Open Energy’s financing approach uses an online marketplace to direct investment. For borrowers, it offers a time- and cost-efficient loan application process. For institutional and accredited investors, Open Energy’s proprietary online platform offers a wide choice of renewable energy projects to invest in.
“Since launching our online application this past fall, we’ve seen an increased demand for loans to finance a range of commercial and industrial solar projects,” says Graham Smith, CEO of Open Energy. “The market is ready to grow and we’re incredibly excited to provide the capital to help unleash the potential in this sector,” he added.
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