SAN DIEGO-Regular GlobeSt.com readers may remember a recent article by Washington D.C. reporter, Erika Morphy in which she discussed that U.S. LEED-certified buildings cover over two billion square feet of space. Going green is bigger than ever, and this trend will hopefully continue – especially as the same story also highlighted that seven billion square feet of sustainable space is in the pipleline around the globe.

In keeping with this news, Borrego Solar announced the recent closing of a $64.4 million dollar fund intended to finance solar energy projects for the corporate, education and municipal sectors. Out in California, Globest.com reporter Carrie Rossenfeld recently covered emerging solar programs – a story that noted Borrego Solar Systems was the first developer to successfully complete two operable installations under a new olar-energy procurement program, which utility companies SDG&E and Southern California Edison began a couple of years ago.

Investors in Borrego’s recent fund closing included the Washington D.C.-based National Cooperative Bank and U.S. bank, which calls Minneapolis home. According to the company, the capital collected will be used to construct over 18 megawatts of energy systems. This will span eight projects including a school district and four municipal landfill installations.

“Partnerships and projects like these create new local jobs and help organizations generate solar electricity at zero upfront cost, allowing us to make progress in our mission to accelerate the adoption of renewable energy,” said Mike Hall, CEO of Borrego Solar in the same company statement.

With the addition of the $64.4 million raised, Borrego Solar has hit a total of $225 million which will be used for financing power purchase agreements for commercial and public sector clients. This recent closing is the company’s largest since it started offering these contracts in 2009, according to the company.

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Borrego Solar Closes Huge Project Fund

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