Sol Systems secures investor funds for 806kW solar project in Deming, New Mexico

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Sol Systems secures financing for 806kW solar project by Affordable Solar within two weeks. The project in Deming, New Mexico, consists of three separate solar arrays sized 84kW, 151kW, and 571kW.

Sol Systems has secured financing for an 806kW solar project in Deming, New Mexico. The business managed to rapidly secure an investor who executed quickly and helped the developer of the solar project, Affordable Solar, secure financing in just two weeks. The project consists of three separate solar arrays, 84kW, 151kW, and 571kW, respectively. The three PV systems will provide power for three facilities in Deming’s water system.

“The team at Sol Systems worked diligently and efficiently to secure capital and move the project forward in a matter of weeks,” said Ryan Centerwall, General Manager of Affordable Solar. “Their team was very accommodating to our needs, and we were impressed with the competitive financing options that they presented to us.”

Since June, the solar finance company has secured financing for 10 commercial-scale projects in California, Indiana, Washington, D.C., Maryland, Hawaii – and now also in New Mexico. With 10 additional projects currently at term sheet, Sol Systems expects several more project closings this fall. The business also estimates that it will place about $40 million in tax equity into the solar industry in 2013 through its tax structured finance group.