LEHI, Utah, April 30, 2020 /PRNewswire/ -- Vivint Solar
(NYSE: VSLR), a leading full-service residential solar provider in
the United States, today announced
it has secured additional tax equity commitments of $50 million from a repeat tax equity investor.
This commitment will support further investments in leases and
power purchase agreements (PPAs), both of which require no money
down and include ongoing maintenance for customers.
"We are very pleased to announce continued support from our
capital partners," said Thomas
Plagemann, chief commercial officer and head of capital
markets for Vivint Solar. "This announcement demonstrates Vivint
Solar's ability to raise financing to enable our continued growth.
This also allows us to continue to bring clean solar energy to our
homeowners who are looking for greater energy independence during
these uncertain times."
This funding will enable the company to design, procure and
build low-cost, clean solar energy systems for more than 4,000 new
residential customers.
Note on Forward-looking Statements:
This press release
contains forward-looking statements within the meaning of Section
21E of the Securities Exchange Act of 1934 and the Private
Securities Litigation Reform Act of 1995, including statements
regarding Vivint Solar's expectations in connection with its Asset
Financing Facility and the tax qualification of its solar energy
systems. Forward-looking statements are inherently subject to risks
and uncertainties, some of which cannot be predicted or quantified.
Forward-looking statements should not be read as a guarantee of
future performance or results, and they will not necessarily be
accurate indications of the times at, or by, which such performance
or results will be achieved, if at all. These statements are based
on current expectations and assumptions regarding future events and
business performance as of the date of this press release, and they
are subject to risks and uncertainties that could cause actual
performance or results to differ materially from those expressed in
or suggested by the forward-looking statements. Although we believe
that the expectations reflected in the forward-looking statements
are reasonable, we cannot guarantee that the future results, levels
of activity, performance or events and circumstances reflected in
these statements will be achieved or will occur, and actual results
could differ materially from those anticipated or implied in the
forward-looking statements. Except as required by law, Vivint Solar
does not undertake and expressly disclaims any obligation to
publicly update or revise any forward-looking statements, whether
as a result of new information, future developments or otherwise.
You should read the documents Vivint Solar has filed with the
Securities and Exchange Commission, or SEC for more complete
information about the company. These documents are available on
both the EDGAR section of the SEC's website at www.sec.gov and the
Investor Relations section of the company's website at
investors.vivintsolar.com/.
About Vivint Solar
Vivint Solar is a leading
full-service residential solar provider in the United States. With the help of Vivint
Solar, homeowners can power their homes with clean, renewable
energy, typically achieving significant financial savings over
time. Vivint Solar designs and installs solar energy systems for
homeowners and offers monitoring and maintenance services. In
addition to being able to purchase a solar energy system outright,
homeowners may benefit from Vivint Solar's affordable, flexible
financing options, including power purchase agreements, or lease
agreements, where available. Vivint Solar also offers solar plus
storage systems with LG Chem home batteries and electric vehicle
chargers with ChargePoint Home. For more information,
visit www.vivintsolar.com or follow @VivintSolar on
Twitter.
Media Contact:
Heather Hurst
385-202-6577
pr@vivintsolar.com
www.vivintsolar.com
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SOURCE Vivint Solar, Inc.