Goldman Sachs, through its Urban Investment Group, has made an equity investment in solar company PosiGen Solar Solutions to help the company fund growth plans.
PosiGen Solar Solutions is a leading solar photovoltaic system, energy efficiency retrofit and energy education provider that has more than 7,500 customers and directly employs approximately 185 people in Louisiana, Connecticut, Florida and New York.
This latest investment will help PosiGen to expand into more states. “We are thrilled to be bolstering our partnership with the leading financial services firm in the country,” said Thomas Neyhart, CEO of PosiGen. “Having Goldman Sachs as an equity partner will facilitate our aggressive national market expansion and allow us to increase the positive economic impact we are making in economically distressed communities.”
“Our unique model of low cost solar panel leases combined with energy efficiency upgrades makes clean energy available to households who spend up to 20 times a month more of their household income on their utility bills than traditional solar customers,” said Aaron Dirks, Chairman of the Board for PosiGen. “This investment will enable us to reach even more needy families who will benefit from the savings the PosiGen solar and energy efficiency solution provides.”