Tuesday, July 5, 2016

OneRoof Energy Sells Off Solar Project Assets

San Diego-based residential solar installer OneRoof Energy announced on Monday that it has sold 19.8MW of its solar project assets, in a deal worth approximately $61M. OneRoof Energy said it will initially received $19M, with an additional $42M being paid in additional tranches through September 2016. The company said the proceeds ofd the sale will go to repay amounts due under its current onstruction loan facility. The sale comes as the company lost its COO and CFO, and also cut its staff, shifting its focus from developing its own projects, to orking with partners to line up projects.