Transaction

• In April 2010, Solar Power Partners (SPP) completed a $115 million financing, expandable up to $215 million, comprised of construction debt, term debt, tax equity and corporate equity.
• Seven Hills acted as placement agent on the corporate equity component, which was placed with a new strategic investor, Sojitz Corporation, and existing investors Energy Investors Funds and Globespan Capital Partners.
• Transaction represents the second financing that Seven Hills has completed for SPP.

Company

• SPP, the country's largest independent solar power producer, helps utilities, businesses and institutional customers utilize solar energy. SPP develops, owns and operates distributed solar energy facilities and sells solar-generated electricity through Power Purchase Agreements (PPA).
• SPP developed and now manages over 40 projects representing 14 MW of solar power.

Result

• Successfully closed second corporate equity financings for SPP during challenging economic climate.
• Funds used to expand corporate operations and to develop, build and operate commercial- and utility-scale projects.
• Added strong strategic partner to investor base, bringing valuable relationships and network across solar value chain.