Australia-based CBD Energy Ltd. says its U.S.-based subsidiary, Westinghouse Solar Inc., has secured up to $100 million of loan financing for its residential solar customers.
Gerry McGowan, executive chairman of CBD, says upon loan approval, CBD will receive up to 50% of the sales price of a system with the balance paid on installation, which will greatly improve the company's position with regard to working capital.
‘We continue to report solid traction in our U.S. growth strategy, and this arrangement with an established finance provider will allow our Westinghouse Solar customers to install and own their own system,’ McGowan says.
