Silfab And Regeneration Collaborate
Silfab S.p.A., a leading international vertically-integrated photovoltaic company, announced this week that it has entered into a joint-venture with REgeneration Finance LLC., a premier developer of solar energy projects with offices in Harrison, NY and San Francisco.
The transaction includes both a capital investment from Silfab to finance a REgeneration affiliate and a collaboration agreement between REgeneration and Silfab North American subsidiary, Silfab USA LLC. The funds will be used to expand the program of financing and structuring commercial and utility scale solar energy projects involving schools, universities, municipalities and major corporations spearheaded by REgeneration. Besides participating as a capital investor, Silfab will contribute with its technical expertise as utility scale developer and PV products and systems manufacturer.
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.
"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" commented Franco Traverso, Chairman and CEO of Silfab. "We look forward to working closely with the REgeneration team to create a vibrant commercial and utility scale photovoltaic market in the United States" he added.
"We are very proud to be associated with one of Europe's top PV integrators and solar energy providers" said Lorrie Friedman REgeneration's CEO. "Their principal founders have over 30 years of diverse experience in our industry covering the entire photovoltaic supply chain. This partnership provides cutting-edge technologies and best practices that have evolved in the European markets."
"Silfab has over 60MW of utility scale projects under development in key southern European markets, and whose founders, Franco Traverso (an Italian pioneer in the solar energy industry), Pan Asia Solar Ltd. and Sino-American-Silicon Products Inc. have an unmatched record of building successful solar energy companies - we can think of no better partner to work with to take advantage of the coming boom of US solar activity" added Friedman. Coltin Securities LLC acted as financial advisor to REgeneration in the transaction.
