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SolarCity Raises $81 Million In New Equity Finance Round

Posted On:
October 26, 2015
Posted By:
United States
» Colorado

SolarCity has raised $81 million in its latest round of equity financing. The round was co-led by Silver Lake Kraftwerk and Valor Equity Partners, and included investments from Nicholas J. Pritzker, partner at Tao Ventures and senior development advisor for Hyatt Hotels Corp., and Shea Ventures, an affiliate of SolarCity partner Shea Homes.SolarCity Chairman Elon Musk and existing SolarCity investor DBL Investors also participated.The new financing is expected to fund SolarCity's expansion of sales, marketing and operations, technology development and potential acquisitions, the company says.

Draker Laboratories, a provider of turnkey monitoring and asset management services for commercial and utility-scale solar photovoltaic projects, says it is entering the Japanese market through a strategic partnership with Tokyo-based EKO Instruments Co. Ltd.In 2011, the Japanese solar PV market was the sixth largest in the world, and it is expected to grow larger as its solar feed-in-tariff program is introduced in July, Draker notes. Under the terms of the EKO partnership, EKO will handle marketing, sales, project management and installation services for Draker's commercial and utility-scale solar monitoring, asset management and control packages.Draker will provide technical and product support to EKO and collaborate closely with the EKO team to develop integrated turnkey solutions for customers in Japan.

Germany-headquartered PV inverter manufacturer SMA Solar Technology AG has opened a new sales and service subsidiary in Tokyo.SMA plans to initially offer inverters and communication products for small photovoltaic plants in the Japanese market. Later on, inverters for large-scale photovoltaic projects, as well as energy management systems, will be added to the product line."We expect strong growth in the Japanese photovoltaic market in the coming years," predicts Pierre-Pascal Urbon, speaker of the managing board and chief financial officer of SMA Solar Technology AG. "In addition to the photovoltaic rooftop system sector, we also see great potential in the area of commercial and industrial photovoltaic projects."According to SMA, its inverter production in Niestetal, Germany, is geared to the high quality standards of the Japanese market. SMA holds a DIN ISO 9001 certification for quality management, as well as a DIN ISO 14001 certification for environmental management. Additionally, the SMA production process has been inspected and certified by JET officials.
For more information:ReneSola
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