Borrego Solar Systems Closes $36 Million Project-Finance Fund

Borrego Solar Systems Inc., a designer and installer of grid-tied commercial and public-sector solar electric power systems, has closed its second fund with U.S. Bank and East West Bank to finance new solar energy projects worth approximately $36 million. Projects include a 1.2 MW system at Madera Community Hospital and a 1.8 MW system at San Diego County Water Authority.

‘Borrego Solar has proven itself as a sound investment partner,’ says K.Y. Cheng, executive vice president at East West Bank. ‘Looking at Borrego's already diverse pipeline of new projects, we could not be more confident in the success of the second – and substantially increased – round of financing.’

SOURCE: Borrego Solar Systems Inc.

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