Conergy aims $100m at US market

Conergy has unrolled its strategy under new owner Kawa Capital Management, signaling plans to become a solar-lease provider in the US for PV installations between 500kW and 25MW, targeting companies, schools and other big energy users.

Behind those plans is a $100m tax-equity fund – known as Conergy Fund I – which will initially source its debt, equity and tax-equity finance from an unnamed Fortune 500 bank in the US.

The fund will also be backed financially by Miami-based Kawa Capital Management, which last November finalised its acquisition of Conergy’s global sales and service units.

Conergy’s module factory in Germany was subsequently acquired by China’s Astonergy, while its mounting-systems plant was bought by German investor Nordwest Industrie Group.

The solar-lease model has exploded within the fast-growing Log in to read complete article.

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