Solaria Corp raises USD 65m for solar module availability
(ADPnews) - Sep 9, 2010 - US solar module maker Solaria Corp announced yesterday that it had raised USD 65 million (EUR 51m) in Series D financing round, to be spent on increasing availability of its patented photovoltaic (PV) modules.
The round, which also includes USD 10 million in a working capital growth loan facility, has exceeded the company's target by USD 20 million.
Led by CMEA Capital and DBL Investors, the round was also joined by Adams Street Partners, Cycad Group and Western Technologies Inc (WTI). enXco, the US-based subsidiary of French EDF Energies Nouvelles (EPA:EEN) also took part in the final close with a small investment.
Solaria will use the proceeds to increase availability of its solar modules around the world. The company's modules are designed for ground-mounted tracking systems and certified to UL1703 and IEC61215 standards.