Residential solar provider Vivint Solar has secured tax equity commitments from three investors totaling $200 million. The company says these tax equity commitments will support investments in solar projects with a total value of over $480 million and will enable Vivint to install approximately 123 MW of residential solar energy systems.
“We are very pleased to announce ongoing support from our capital partners,” said Thomas Plagemann, chief commercial officer and head of capital markets for Vivint Solar. “This announcement demonstrates Vivint Solar’s ability to raise financing to enable our continued growth and demonstrates the confidence investors have in the company’s future.”
This funding will enable the company to design, procure and build solar energy systems for more than 17,000 new residential customers, according to Vivint. The company notes that it operates in 14 states (Arizona, California, Connecticut, Florida, Hawaii, Maryland, Massachusetts, New Jersey, New Mexico, New York, Pennsylvania, South Carolina, Texas and Utah), and Washington, D.C.