Borrego Solar Systems Named One of America’s Fastest-Growing Private Companies by Inc. Magazine for the Third Consecutive Year

EL CAJON, Calif.--(BUSINESS WIRE)--Borrego Solar Systems, Inc., a leading financer, designer and installer of grid-connected solar electric power systems, has been named one of America’s fastest-growing companies by Inc. Magazine for the third year in a row. Ranked number 321, Borrego Solar grew at an impressive rate of 754.4 percent over the past three years. Borrego Solar is also ranked 14^th among top energy companies and seventh among the fastest-growing businesses in the San Diego-Carlsbad-San Marcos, Calif. area.

“Being honored by Inc. Magazine for the third consecutive year is further testament to the continued recognition of solar power as a leading alternative energy source as well as Borrego’s commitment to offering the highest-quality services possible,” said Mike Hall, CEO of Borrego Solar Systems, Inc. “We are extremely pleased with this recognition and anticipate continued growth as we evolve our business model to help organizations across the U.S. reap the financial and environmental benefits of solar energy.”

Borrego finished 2008 with $58 million in revenue and more than $90 million in contracts, having completed some of the country’s largest solar projects for schools, companies and government agencies. Most recently, Borrego announced a new financing option for commercial and government organizations interested in adopting solar energy. Borrego’s new power-purchase agreement (PPA) program provides customers a new, simple way to finance a solar project without having to assume the up-front costs of the project or work with a third-party financier. Borrego has already received interest in the program in Massachusetts, New Jersey and California and expects to see continued growth while increasing the size and scope of the projects it designs, builds and manages.

“If you want to know which companies are going to change the world, look at the Inc. 500,” said Inc. editor Jane Berentson. “These are the most dynamic, fast-growth companies in the nation, the ones finding innovative solutions to problems, creating smart systems, and inventing products we soon discover we can't live without. The Inc. 500 list is Inc. Magazine’s tribute to American business ingenuity and ambition.”