Solar array. Author: Som Energia Cooperativa. License: Attribution 2.0 Generic.
US residential photovoltaic (PV) systems installer Vivint Solar (NYSE:VSLR) on Wednesday announced the launch of a USD-150-million (EUR 133m) fund to invest in the commercial and industrial (C&I) solar market.
Through the new fund, Vivint will be able to finance commercial and industrial solar projects for the first time since its inception. The company did not disclose the name of the investor that has committed to contribute the sum.
"Providing more than residential solar enables us to reach additional customers and markets, and we're excited about the potential this expansion into the commercial and industrial space brings with it," said Jan Newman, vice president of business development at Vivint.
The rooftop PV installer also said it has entered into agreements with certain engineering, procurement and construction (EPC) services providers to help it expand into the C&I space. It expects to unveil those deals in the near future.