Sungevity raises $125 million for solar projects
A car emblazoned with Sungevity's logo near its Jack London Square headquarters.
Sungevity Inc. has raised $125 million in venture capital and project financing.
The funding includes $40 million in capital raised in 2012, led by Oakland-based Brightpath Capital Partners and the home improvement retailer Lowe's.
Vision Ridge Partners, Craton Equity Partners and Eastern Sun Capital Partners LLC also joined in the funding round.
Oakland-based Sungevity also secured $85 million in project financing from Energy Capital Partners and an unnamed commercial bank.
The project financing will be used to fund development of solar projects in the nine states that Sungevity services: California, Arizona, Colorado, Connecticut, Delaware, Maryland, Massachusetts, New Jersey and New York.
The company also has a presence in Australia and the Netherlands.
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