It is the fifth solar fund to be orchestrated by San Francisco-based Renewable Ventures, and the first since Fotowatio acquired a controlling stake in the company for $19.7m in March 2009.
The fund will enable the construction of PV plants totalling 35 megawatts (MW) within the next year.
“Solar Fund V has been designed to use capital and incentives available under the [US] stimulus programme in a way that can accelerate the development of more solar projects and quickly create jobs in the US renewable-energy sector,” says Matt Cheney, chief executive of Renewable Ventures.
The
