Sunrun nets USD$50 million to expand solar operations

The U.S. company closed a Series C round of funding for the USD$55 million led by Sequoia Capital and joined by existing investors Accel Partners and Foundation Capital.

This funding round follows an announcement by Sunrun and PG&E Corporation earlier this month of a USD$100 million tax equity project financing agreement to fund the company’s installation of more than 3,500 new home solar installations across the U.S.

The company said its customer base has grown by over 400 percent in the past year.