Vivint Solar raises USD 200 million in tax equity funding


Vivint Solar is still attracting notable investments, as the company announces the finalizing of USD 200 million in tax equity commitments. It is much needed funding for the deployment of residential solar are the U.S., as the company’s quarterly financials loom just around the corner.

The new equity commitments have come from three separate investors, and represents the second time this year that the company has raised USD 200 million in funding, after closing on a USD 200 million non-recourse term facility back in March.

This new influx of capital will be used to support 123 MW of residential solar projects with a total value of USD 480 million. This translates into solar systems for more than 17,000 residential customers.

“We are pleased to announce ongoing support from our capital partners,” commented Vivint Solar CCO and head of capital markets Thomas Plagemann. “This announcement demonstrates Vivint Solar’s ability to raise financing to enable our continued growth and demonstrates the confidence investors have in the company’s future.”

It has been a topsy-turvy year for Vivint after its merger agreement with SunEdison fell through in March, which saw the company struggle to recover, compounded by the resignation of its CEO Greg Butterfield in May. However, the company’s second quarter financial results were not as poor as some had predicted they might be, with decent year-on-year revenue growth, and a significant drop in the company’s yearly loss from operations.

Concluding the release of its Q2 results, Vivint was reluctant to give out exact solar deployment forecasts for the third quarter, expecting that they would be similar to the 61 MW deployed during the second quarter. However, there is not long to wait to find out, as the company is due to release its quarterly financial results later today, which will be covered on the pv magazine website.

This content is protected by copyright and may not be reused. If you want to cooperate with us and would like to reuse some of our content, please contact:

Popular content


Related content

Elsewhere on pv magazine...

Leave a Reply

Please be mindful of our community standards.

Your email address will not be published. Required fields are marked *

By submitting this form you agree to pv magazine using your data for the purposes of publishing your comment.

Your personal data will only be disclosed or otherwise transmitted to third parties for the purposes of spam filtering or if this is necessary for technical maintenance of the website. Any other transfer to third parties will not take place unless this is justified on the basis of applicable data protection regulations or if pv magazine is legally obliged to do so.

You may revoke this consent at any time with effect for the future, in which case your personal data will be deleted immediately. Otherwise, your data will be deleted if pv magazine has processed your request or the purpose of data storage is fulfilled.

Further information on data privacy can be found in our Data Protection Policy.