Panasonic and Coronal Management establish solar financing company

To be managed by Coronal Management, the aim of the new company is to boost Panasonic’s North American solar market penetration by removing the "major" financing hurdles associated with project development and implementation. Panasonic is expected to both build and maintain the solar systems, while Coronal will provide the necessary equity financing.

"The ability to provide an end-to-end development, implementation and financing solution for our customers is critical to our continued growth in the solar space," stated Jim Doyle, president of Panasonic Eco Solutions North America. "Panasonic brings unrivaled engineering and building capabilities backed by the largest balance sheet in the solar business," added head of Coronal, Jonathan Jaffrey.

Panasonic Eco Solutions North America launched this April. In addition to providing development services and financing, it offers EPC services and construction financing.

No further details have been released, however pv magazine has requested an interview with Panasonic.