June 25 (Renewables Now) - US residential solar installer Vivint Solar (NYSE:VSLR) has secured commitments for USD 100 million (EUR 87.8m) worth of tax equity financing that will help it add over 55 MW of new home solar systems.
More than 8,000 new residential clients of the company will benefit from the funding, which was received from RBC Capital Markets and co-investors arranged by RBC's Tax Credit Equity Group, Vivint Solar announced on Monday.
The fresh financing comes on top of the USD 360 million the photovoltaic (PV) installer received earlier this month in a forward flow financing transaction. The particular deal included project-level debt, a levered tax equity partnership and a cash equity investment for up to 100 MW of new solar installations.
"The ongoing commitment of our investor partners supports our growth and plays an essential role in enabling us to expand our residential solar business," said Thomas Plagemann, Vivint Solar’s chief commercial officer.
The Utah-based company has raised over USD 4.6 billion in cash equity, tax equity and debt since its establishment in 2011, it said.
(USD 1.0 = EUR 0.878)