Solar Developers Acquire Funding Through Venture Capitalists

December 18, 2009 / No Comments

applied parking array4 lo Solar Developers Acquire Funding Through Venture Capitalists

Two developers of solar projects have managed to get funding for their commercial and utility projects through sources which one wouldn’t expect to be so efficient – venture capitalists. Tioga Energy have managed to raise $20 million for their business, which is financing commercial and non-commercial solar installations – for example, on around school and office buildings.

Companies that contributed to the investment included NGEN Partners, Draper Fisher Jurvetson, Nth Power and others.

The other company that managed to get funding in this manner are SunBorne Energy Holdings, who announced on Wednesday that they’ve managed to acquire about $5.2 million funding from the General Catalyst venture capital company. SunBorne’s main target for development right now is India, with their biggest project being a thermal project in Gujarat.

It’s curious that venture capitalists are finally showing active interest in renewable energy projects, as they usually look for bigger profits in the future – but we certainly can’t complain as this development is fantastic. We just hope that more capitalist companies start to realize the importance of investing in green tech.

[ Via CNET ]