•  
  •  
  •  

GameChange Solar to finance global expansion with Citi funds

Solar project in Florida, USA. Source: GameChange Solar (www.gamechangesolar.com)

July 9 (Renewables Now) - US-based solar racking manufacturer GameChange Solar has secured an asset based working capital credit line of an undisclosed sum from Citi Commercial Banking.

The company will use the credit facility to fund its domestic and international growth over the next several years, it said. Just recently, it announced the addition of 6.4 GW of tracker and fixed tilt production capacity in China from where it will pursue growth into international markets such as the Middle East, Europe, Australia and Africa. The firm also plans growth in Latin America.

“As GameChange Solar continues its rapid expansion globally and in the US, we decided it was time to bring on a large financing partner,” commented Derick Botha, chief commercial officer at GameChange Solar.

The solar racking maker said it has been profitable every year since its creation in 2012 and expects this to continue in the coming years. The company hopes to become the global leader in this market by 2022, with sales substantially in excess of USD 1 billion (EUR 892m).

(USD 1.0 = EUR 0.892)

More stories to explore
Share this story
Tags
 
About the author
Browse all articles from Ivan Shumkov

Ivan is the mergers and acquisitions expert in Renewables Now with a passion for big deals and ambitious capacity plans.

More articles by the author
5 / 5 free articles left this month
Get 5 more for free Sign up for Basic subscription
Get full access Sign up for Premium subscription