LEHI, Utah, Nov. 7, 2016 /PRNewswire/ -- Vivint Solar
(NYSE: VSLR), a leading provider of distributed solar energy
systems in the United States,
announced today it has secured tax equity commitments from three
investors, totaling $200 million.
These tax equity commitments will support investments in solar
projects with a total value of over $480
million and will enable the company to install approximately
123 megawatts of residential solar energy systems.
"We are very pleased to announce ongoing support from our
capital partners," said Thomas
Plagemann, chief commercial officer and head of capital
markets for Vivint Solar. "This announcement demonstrates Vivint
Solar's ability to raise financing to enable our continued growth
and demonstrates the confidence investors have in the company's
future."
This funding will enable the company to design, procure and
build low-cost, clean solar energy systems for more than 17,000 new
residential customers.
Vivint Solar operates in 14 states (Arizona, California, Connecticut, Florida, Hawaii, Maryland, Massachusetts, New
Jersey, New Mexico,
New York, Pennsylvania, South
Carolina, Texas and
Utah), and Washington, D.C. For more information, visit
www.vivintsolar.com.
About Vivint Solar
Vivint Solar is a leading provider of distributed solar energy –
electricity generated by a solar energy system installed at a
customer's location – to residential customers in the United States. Vivint Solar's customers
pay little to no money upfront, typically receive significant
savings relative to utility generated electricity and continue to
benefit from guaranteed energy prices over the 20-year term of
their contracts. Vivint Solar finances, designs, installs, monitors
and services the solar energy systems for its customers. Vivint
Solar also sells solar energy systems; customers can pay cash or
finance the purchase through one of Vivint Solar's industry-leading
finance partners. For more information, visit www.vivintsolar.com
or follow @VivintSolar on Twitter.
Note on Forward-looking Statements
This press release contains forward-looking statements as
defined within the meaning of the federal securities laws.
Forward-looking statements are inherently subject to risks and
uncertainties, some of which cannot be predicted or quantified.
Forward-looking statements should not be read as a guarantee of
future performance or results, and they will not necessarily be
accurate indications of the times at, or by, which such performance
or results will be achieved, if at all. These statements are based
on current expectations and assumptions regarding future events and
business performance as of the date of this press release, and they
are subject to risks and uncertainties that could cause actual
performance or results to differ materially from those expressed in
or suggested by the forward-looking statements, including but not
limited to the risks set forth in the registration statements and
reports that Vivint Solar files with the U.S. Securities and
Exchange Commission, which are available on the Investor Relations
section of our website at www.vivintsolar.com. Vivint Solar does
not undertake any obligation to publicly update or revise any
forward-looking statement, whether as a result of new information,
future developments or otherwise.
Investor Contact:
Vivint Solar
Rob Kain
Vice President of Investor Relations
801-229-6460
ir@vivintsolar.com
Media Contact:
Vivint Solar
Helen Langan
Director of Public Relations
385-202-6577
pr@vivintsolar.com
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SOURCE Vivint Solar