San Diego Business Journal

Borrego Solar Systems Closes Financing Fund for New Projects

Tuesday, June 21, 2011

Borrego Solar Systems Inc., an El Cajon-based designer and installer of solar energy systems, said June 21 that it closed another financing fund with its lenders for new energy projects in California, Massachusetts and New Jersey.

The latest financing round from U.S. Bank and East West Bank brings Borrego Solar’s total to more than $100 million in the last 12 months, the company said.

The financing will help generate about 9 megawatts of projects, including those at Edwards Air Force Base and Santa Clara County, as well as in Easthampton, Mass. and Newark, N.J.

Borrego Solar previously announced it obtained $56 million in financing for several solar projects including for the San Diego Community College District and the San Diego County Water Authority.

— Mike Allen