Tuesday, July 28, 2009

SunRun Collects $18M

San Francisco-based SunRun, a provider of purchasing and project financing for residential solar power projects, said this morning that it has raised $18M in a Series B round. The round was led by Accel Partners, with participation from existing investor Foundation Capital. The firm said the funding will go to meet demand for its service and expand into new markets. SunRun offers financing for installing residential photovoltaic agreements, and then sells back the power generated from those installations through power purchase agreements (PPAs). The firm also has $105M in project financing from U.S. Bancorp, in addition to its equity investments. Accel's Rich Wong joins the company's board along with the funding. More information »