OneRoof Gets US$12.5 Million Loan for Solar Expansion

Residential solar services provider OneRoof Energy Inc. has signed a US$12.5 million loan agreement with North Sky Alliance Fund and NewWorld Environmental Infrastructure.

The loan agreement was arranged by GoldenSet Capital Partners, which acts as manager of NewWorld Environmental Infrastructure L.P. and advisor to North Sky Alliance Fund. Principal and interest on the loan will mature in three years and interest will accrue at a fixed rate of 15% per annum, compounded monthly, from the date of the closing of the facility. The loan is secured by the assets of OneRoof Energy.

“We have forged a long-term relationship with GoldenSet, one which will grow over time,” said David Field, president and chief executive officer of OneRoof Energy.  “This funding facilitates our expansion to the northeast, a region that was especially hit hard by electricity demands this past winter. “

Toronto-based One Rood has customers in Arizona, California, Connecticut, Hawaii, Massachusetts, New Jersey and New York.

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