As one of the leaders of providers of residential solar system in the U.S., Vivint Solar launched its entry into commercial and industrial solar projects with an US$150 million investment fund.
An investor has committed to invest $150 million, which will allow Vivint Solar 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.