Vivint Solar Announces Launch Of Commercial And Industrial Offerings With $150,000,000 Fund2 June, 2015 | Press Releases
Vivint Solar raises funds and signs contracts with engineering, procurement and construction companies to expand its solar services to include commercial and industrial solar projects.
LEHI, Utah, June 3, 2015 /PRNewswire/ -- Vivint Solar (NYSE: VSLR), a leading provider of residential solar energy systems in the United States, is announcing that they have entered into their first solar commercial and industrial investment fund to which the investor has committed to invest $150 million, which will allow the company to finance energy efficient commercial and industrial solar projects. This announcement marks the first time that Vivint Solar has expanded its offerings beyond residential solar.
"This new business unit is a major step for Vivint Solar," said Jan Newman , Vice President of Business Development at Vivint Solar. "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."
Vivint Solar has also contracted with engineering, procurement and construction companies (EPCs) to assist in its expansion into the commercial and industrial space. The company intends to announce those relationships in the near future.
About Vivint Solar
Vivint Solar is a leading provider of distributed solar energy – electricity generated by a solar energy system installed at a customer's location – to residential customers in the United States. Vivint Solar's residential customers pay little to no money upfront, receive significant savings relative to utility generated electricity and continue to benefit from guaranteed energy prices over the 20-year term of their contracts. Vivint Solar finances, designs, installs, monitors and services the solar energy systems to make things easy for its customers. For more information, visit www.vivintsolar.com or follow @VivintSolar.
Note on Forward-looking Statements
This press release contains forward-looking statements as defined within the meaning of the federal securities laws, including statements regarding Vivint Solar's first commercial and industrial investment fund and the prospects of this new market expansion. Forward-looking statements are inherently subject to risks and uncertainties, some of which cannot be predicted or quantified. Forward-looking statements should not be read as a guarantee of future performance or results, and they will not necessarily be accurate indications of the times at, or by, which such performance or results will be achieved, if at all. These statements are based on current expectations and assumptions regarding future events and business performance as of the date of this press release, and they are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in or suggested by the forward-looking statements, including but not limited to the risks set forth in the registration statements and reports that Vivint Solar files with the U.S. Securities and Exchange Commission, or SEC, from time to time. Except as required by law, Vivint Solar does not undertake any obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future developments or otherwise.
Vice President of Investor Relations
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SOURCE Vivint Solar