Advantage Capital invests USD 4m in residential PV co Momentum Solar

Residential solar system. Author: David TREBOSC. License: Creative Commons, Attribution-NoDerivs 2.0 Generic.

November 30 (Renewables Now) - US investment firm Advantage Capital has poured USD 4.1 million (EUR 3.6m) into New Jersey-based residential photovoltaic (PV) installer Momentum Solar, it was announced on Wednesday.

In addition to New Jersey, Momentum Solar offers solar design, engineering and installation services across the states of New York, California, Florida, Texas, Connecticut and Pennsylvania. The firm will use Advantage Capital’s financial backing to achieve its expansion plans and growth strategy.

Momentum Solar intends to hire 150 employees in New Jersey over the next three years. It anticipates to end 2018 with a total headcount of around 1,200, which would be almost double the 650 employees from end-2017.

(USD 1.0 = EUR 0.879)

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