Solar Power Partners Closes $160 Million In Financing

MILL VALLEY, Calif., Sep 29, 2008 (BUSINESS WIRE) -- Solar Power Partners, Inc. (SPP), a leading national commercial solar energy services provider, announced it has closed close to $100 million of equity and debt financing to date. Additionally, SPP expects to close an additional $60 million in committed project financing in 2008; these additional funds will be used for development of solar energy facilities and associated asset management services. SPP's investors and lenders include: United Commercial Bank, Globespan Capital Partners, The Enlightened World Foundation, Carrelton Asset Management, Dry Creek Ventures, Silicon Valley Technology Group, and most recently, Energy Investors Funds, a leading private equity investor in the US power market, among others. Proceeds from the various financings are for nationwide corporate expansion, project development, and equity participation in SPP's proprietary special purpose vehicle solar energy funds.