Solar Energy Initiatives Inc. (SEI) has negotiated financing for its previously announced $6 million commercial solar project in the western U.S.
SEI says it will begin installation of solar panels for this project in August. Suntech Power Holdings Co. Ltd. will be providing approximately 3,800 solar panels that will be used for this project.
The funding allows the company to move forward with the project without increasing its operating costs or leveraging its own balance sheet. Based on the successful completion of the funding, SEI now has the ability to move forward with several other projects from its strong backlog and $100 million pipeline, the company adds.
SOURCE: Solar Energy Initiatives Inc.