Borrego Solar Systems Inc., a designer and installer of grid-tied solar electric power systems, has launched a new financing option for schools, companies and government organizations.
The new power purchase agreement (PPA) program gives its customers a simple way to finance a solar project without having to assume the up-front costs of the project or work with a third-party financier, the company says.
With a $30 million backing from a PPA fund launched by Walsin Lihwa, a current investor, Borrego plans to develop and finance more than $100 in million solar projects over the next 12 months. The PPA program is also the first commercial PPA of its kind designed to finance school and commercial solar projects in Massachusetts, the company adds.
SOURCE: Borrego Solar Systems