We are pleased to announce that Seven Hills acted as joint placement agent for Solar Power Partners’ $13.2 million private financing. The offering was placed with a new strategic investor, Sojitz Corporation, and existing investors Energy Investors Funds and Globespan Capital Partners. Concurrent with the financing, Solar Power Partners announced it also closed $115 million of funding, expandable up to $215 million, comprised of construction debt, term debt, and tax equity. Use of proceeds includes development of commercial- and utility-scale solar projects and expansion of the Company’s business development efforts. This is the second financing that Seven Hills has completed for Solar Power Partners.

Solar Power Partners, Inc. (www.solarpowerpartners.com), the country’s largest independent solar power producer, helps utilities, businesses, and institutional customers utilize solar energy. SPP has developed and now manages over 40 completed projects representing 14 MW of solar power. SPP develops, owns, and operates distributed solar energy facilities and sells solar-generated electricity through Power Purchase Agreements (PPA). PPAs are long-term energy financing solutions that help customers secure solar power without the hassles or costs of facility ownership and maintenance. SPP’s customers include water districts, data centers, wineries, cold storage warehouses, grocery stores, hospitals, universities, manufacturing facilities, airports, housing developments, schools, and municipalities. SPP mitigates the risks associated with long-term performance of solar assets by providing ongoing management, state-of-the-art monitoring, and regular maintenance services. Solar Power Partners was founded in 2006 and is headquartered in Mill Valley, California.

Sojitz Corporation, the Company’s newest investor, is a $2.3 billion diversified trading company headquartered in Tokyo, Japan. Sojitz’s expansion into renewable/clean energy includes acquisitions of, investments in, and partnerships with, leading cleantech companies in Africa, Asia, Australia, Europe and Latin America.

About Seven Hills
Seven Hills (www.sevenhills.com) is a leading provider of financial advisory and corporate finance services to growth companies. We deliver technical expertise developed at major Wall Street firms and an entrepreneurial drive developed during our years at growth company-focused investment banks. We concentrate our efforts in growth sectors of the economy in which our bankers have advised hundreds of companies and established a broad network of corporate and institutional investor relationships. We have expertise in technology, healthcare, clean tech and business services. Seven Hills is an independent firm owned by its Partners and a select group of private investors.

Related: Solar Power Partners' Press Release