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Sammons Renewable Energy invests $241 million in SolarCity projects
By Tali Rackner
Norfolk, Va., Dec. 23 – Sammons Renewable Energy led the equity portion of a $241 million cash equity transaction with SolarCity Corp., according to a press release.
As part of the deal, Sammons Renewable is investing in a portfolio of solar projects in 16 states, including 26,000 home residential systems and 19 commercial and industrial solar projects.
The financing is non-recourse to SolarCity, the release said.
Franklin Park Investments manages Sammons Renewable, a Dallas-based company that invests in renewable energy projects in the U.S., Canada and Mexico. SolarCity is a San Mateo, Calif., provider of clean energy.
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