Solar Power Partners (SPP), Mill Valley, Calif., has secured $6 million in Series A funding led by Globespan Capital Partners. The Series A funds will be used to expand business operations and accelerate sales and marketing of commercial power purchase agreement (PPA) solutions in partnership with solar integrators in selected U.S. markets. The funds complement SPP's separate solar project financing funds.
SPP has, to date, signed 47 solar PPA projects nationwide representing 14 MW of clean energy generating capacity. Originally focused on the California and Hawaii markets, SPP has several MW of new projects slated for closure shortly in the northeast U.S.
‘SPP is leading the way in the mid-commercial PPA market, and we are excited to help them reach their next business expansion milestones,’ says Ullas Naik, managing director at Globespan Capital Partners.