Sol Systems Takes Aim at Commercial-Scale
Will Deploy $200+ Million in 2015
WASHINGTON, Jan. 27, 2015 -- Sol Systems today announced its plan to deploy over $200 million into the solar asset class, to finance at least 150MW of projects. The year has started with a bang for the firm, which is now deploying over $100 million in capital to finance over 100MW of commercial-scale and small utility projects in the 200kW to 5MW range.
"Complexities of commercial and small-utility scale solar create an asset class that is unquestionably challenging, which we embrace," noted Yuri Horwitz, CEO of Sol Systems. "Our team has created efficiencies and standardization to deliver an attractive financial product to our institutional and corporate investors, and a portfolio of unique financing products for the solar industry."
The company has spent the last year building its team, expanding by over 75%, to appropriately focus on the commercial-scale market. Sol Systems opened an office in San Francisco in January, has expanded its presence in Pennsylvania and New Jersey, and will expand into New England mid-year. The company has also built out its investor team with the recent hire of Jerry Stalun, formerly of EIG, as a Senior Director of Investments, and Katie Janik, formerly of the Department of Energy, as Senior Director of Asset Management.
In 2014, Sol Systems financed over 85MW of solar energy projects in the commercial and small utility-scale sector. To date, the firm has facilitated financing for 180MW of solar energy assets across the U.S. with projects located on everything from churches, schools, and grocery stores to major retailers and ground-mount utility farms. It also manages 54MW of solar assets through its solar renewable energy credit (SREC) services.
About Sol Systems
Sol Systems is a solar energy finance and investment firm. The company has facilitated financing for 180MW solar projects on behalf of Fortune 100 corporations, insurance companies, utilities, banks, family offices, and individuals. Sol Systems provides secure, sustainable investment opportunities to investor clients, and sophisticated project financing solutions to developers. The company's tailored financial services range from tax structured investments and project acquisition, to debt financing and SREC portfolio management. Inc. Magazine named Sol Systems on its annual Inc. 500 list of the nation's fastest-growing private companies for a second consecutive year, ranking it No. 6 in the nation's top solar companies in 2014. For more information, please visit www.solsystemscompany.com.
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