by Staff Writers
Belleville, Canada (SPX) Oct 23, 2015
Strathcona Energy Group (SEG), a Canadian-based holding company specializing in vertically integrated solutions for the next generation of photovoltaics, has announced the company has secured $250 US million in construction financing through 1784 Solar, LLC, which is managed by 1784 Capital Holdings.
Strathcona has already secured initial expenditure funding to complete the construction and installation of commercial solar projects by SEG's subsidiaries. The interim loans will primarily benefit Strathcona's EPC provider, which has $85 million in commercial and municipal solar projects to be installed over the next 18 months.
Funding will also be available for the construction of smart energy systems, renewable energy EPC services, as well as manufacturing support for project-specific delivery.
"As solar reaches the mainstream of energy production and is projected to grow another 30% from last year to almost 8GW installed in the U.S. alone, this is the perfect time to have additional short term capital available for our rapidly expanding company," said Karl Hollett, the CEO of Strathcona Energy Group.
"In 1784 Solar, we have found an ideal funding source that thoroughly understands the exponentially growing solar marketplace."
Shane Albers, Chairman and CEO of 1784 Capital Holdings, states, "Strathcona Energy Group has a record of excellence in the energy marketplace. We look forward to funding their continued growth."
Strathcona Energy Group
All About Solar Energy at SolarDaily.com
|The content herein, unless otherwise known to be public domain, are Copyright 1995-2017 - Space Media Network. All websites are published in Australia and are solely subject to Australian law and governed by Fair Use principals for news reporting and research purposes. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA news reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. All articles labeled "by Staff Writers" include reports supplied to Space Media Network by industry news wires, PR agencies, corporate press officers and the like. Such articles are individually curated and edited by Space Media Network staff on the basis of the report's information value to our industry and professional readership. Advertising does not imply endorsement, agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. Privacy Statement|