The new solar company, to be managed by Coronal Management, is being formed to provide funding for distributed generation solar systems that will be built and maintained by Panasonic Eco Solutions North America. “The financing capability provided by the new solar company will alleviate a major hurdle to solar project implementation and provide a growth platform for Panasonic as it further expands into the North American solar market,” the electronics giant says.
Panasonic Eco Solutions North America, launched in April, provides solar project development services and funding and full EPC (Engineering, Procurement, Construction) capabilities with construction financing. The “strategic relationship with Coronal Management and its new solar company will add an additional needed component of equity financing for the development and construction of Panasonic's solar projects,” the firm says.
“We are very excited about our relationship with Coronal Management and its ability to help us offer a unique and differentiated solution to the commercial scale market” said Jim Doyle, President of Panasonic Eco Solutions North America. “The ability to provide an end-to-end development, implementation and financing solution for our customers is critical to our continued growth in the solar space.”
Jonathan Jaffrey, who heads Coronal Management, said the partnership will be “industry changing” thanks to Panasonic’s engineering and building capabilities “backed by the largest balance sheet in the solar business”.
Both companies will be exhibiting at Solar Power International next week.