REgeneration Finance, LLC, a developer of solar energy projects in North America, announced this week that it has entered into a joint venture with Italian solar manufacturer Silfab S.p.A. to develop utility-scale photovoltaic solar installations in the US.
The transaction involves both a capital investment into a REgeneration affiliate from Silfab and a collaboration agreement between REgeneration and Silfab USA LLC, its US subsidiary.
The amount of the capital investment was not disclosed.
According to Lorrie Friedman, REgeneration’s CEO, REgeneration will use the funds from the investment to expand its program of financing and structuring commercial and utility scale solar energy projects. The initial focus is to structure and provide construction, debt and related equity financing to large scale distributive generation projects throughout the United States. The joint venture will ultimately own these projects.
REgeneration said it is developing a pipeline of projects for schools, universities, municipalities and major corporations. Through a financial structure that fully utilizes various federal and
state benefits, REgeneration Finance allows its clients to receive all
the financial and social benefits of renewable energy, including
reducing their carbon footprint, with no initial capital investment.
Silfab will provide technical expertise through its United States subsidiary.
Franco Traverso, Chairman and CEO of Silfab, commented, “The marrying of REgeneration’s financial expertise with our long experience in developing and operating photovoltaic power-plants should deliver ultimate benefits to US consumers seeking affordable, clean energy.”
