(ADPnews) - Dec 15, 2010 - US thin-film solar modules maker Abound Solar Inc said yesterday it had obtained USD 510 million (EUR 383.6m) in debt and equity financing to expand its production capacity to more than 840 MW a year.
The funding included a USD-400-million loan guarantee obtained from the US Department of Energy and USD 110 million raised in equity. The equity financing round attracted Abound Solar's existing investors Invus Group, Bohemian Companies, DCM and Technology Partners, as well as new investors including BP Alternative Energy Ventures and West Hill Companies.
The company will increase the capacity of its existing plant in Colorado and later at a site in Indiana, which will create 1,200 jobs. It has started building a second production line at its Colorado plant, aiming to boost output next year.