U.S. crystalline-silicon solar technology manufacturer SolarWorld is partnering with California-based REC Solar to provide financing, procurement and other services for SolarWorld installers developing commercial projects.
The partnership is aimed at accelerating development of commercial projects between 50 kW and 2 MW by streamlining credit underwriting, contracting, procurement and financing processes. Qualified SolarWorld installers will have access to REC Solar’s fund of $225 million, guaranteed by majority-owner Duke Energy (NYSE: DUK), in California, Hawaii and the Northeast U.S.
“SolarWorld and REC are industry leaders with a shared commitment to quality,” said Ryan Stepp, director of channel and partner sales for REC Solar. “We are excited to be extending our relationship with SolarWorld and bringing the benefits of solar energy to more businesses across the U.S.”
Benefits also include origination and proposal support to simplify and expedite deal closures, project management services, discounted procurement to ensure cost-competitive purchasing that includes SolarWorld solar panels, and online and on-site training for installers.