Greystone and SolarCity partner to fund solar projects with tax credits
Greystone Renewable Energy Ventures has joined up with solar equipment provider SolarCity in a new tax equity fund that will be used to fund future solar projects. Basically, Greystone capitalizes on its expertise in tax regulations to funnel capital to cleantech companies that qualify for federal tax credit programs. It manages about $12 billion in assets.
SolarCity, the largest residential energy provider in the U.S. last year, is looking to finance $100 million worth of solar projects through investor partnerships in 2009. This deal with Greystone is a good start. Based in Foster City, Calif., the company already distributes power to 300 communities in California, Arizona and Oregon.
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About the Author, Camille Ricketts
Camille is the lead writer for GreenBeat. She came to VentureBeat from Google where she worked on its traditional platforms team, particularly in TV. Before that, she was a reporter for the Wall Street Journal in New York and London. Follow her on Twitter at @camillericketts, and follow VentureBeat on Twitter at @venturebeat.
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