Sammons Renewable Energy invests $241 million in SolarCity projects

By Tali Rackner

Norfolk, Va., Dec. 23 – Sammons Renewable Energy led the equity portion of a $241 million cash equity transaction with SolarCity Corp., according to a press release.

As part of the deal, Sammons Renewable is investing in a portfolio of solar projects in 16 states, including 26,000 home residential systems and 19 commercial and industrial solar projects.

The financing is non-recourse to SolarCity, the release said.

Franklin Park Investments manages Sammons Renewable, a Dallas-based company that invests in renewable energy projects in the U.S., Canada and Mexico. SolarCity is a San Mateo, Calif., provider of clean energy.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.