OneRoof Energy secures $20 million loan with North Sky Capital for solar projects

By Lisa Kerner

Charlotte, N.C., Nov. 24 – OneRoof Energy, Inc. signed a $20 million loan agreement with North Sky Capital’s Alliance Fund II.

Principal and interest on the facility will mature in two and one half years, and interest will accrue at a fixed rate of 15% per annum, compounding monthly.

Proceeds will be used for investment in solar projects and general working capital purposes, according to a news release.

Loan amounts may be drawn by OneRoof from time to time subject to certain borrowing base and other funding conditions. Amounts under the facility remaining undrawn will be subject to a non-use fee of 0.50% per annum of the committed, but undrawn, portion of the facility.

The loan agreement was arranged by GoldenSet Capital, a sub-advisor to Alliance Fund II.

OneRoof Energy is residential solar services provider and wholly owned subsidiary of OneRoof Energy Group, Inc. The company is based in San Diego, Calif.

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