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[Red Herring, February 28, 2006]

Renewable Ventures says it raised $100 million to pay solar costs for customers.

Renewable energy investment firm Renewable Ventures said Tuesday it has raised $100 million from institutional investors for a fund that will help organizations switch to solar power.

Instead of investing in startups, Renewable Ventures will finance, own, and operate solar projects for businesses, government agencies, and nonprofits that want to go solar but don’t have the capital to pay for the upfront costs of buying and installing a system. Read >>

[Yahoo! Finance, February 28, 2006]

Renewable Ventures to Fund up to $100 Million of Solar Electric Power Plants.

Renewable Ventures, LLC today announced that in partnership with its institutional investors, it is ready to fund $100 million of solar energy and other renewable energy projects nationwide.

A specialist in the financing and management of renewable energy projects, Renewable Ventures works with project developers, installation companies and energy customers to commission onsite power plants that deliver predictably priced, clean energy without burdening the customer with purchase costs and ongoing system maintenance responsibilities. Read >>

[BusinessWeek. January 12, 2006]

California Energy Regulators OK Solar Program.

Hoping to make California a world leader in solar power, state energy regulators Thursday approved some $3 billion in customer rebates over the next decade to encourage people to install solar panels on their roofs.

"We anticipate that there are going to be a lot of companies getting into this space and thriving in this space," said Matthew Cheney, chief executive of San Francisco-based Renewable Ventures, which provides financing for renewable energy projects. Read >>

[Red Herring, January 12, 2006]

California Solar Gets $2.9B.

A state agency will use the money to prod consumers to go solar, launching the largest U.S. solar incentive program.

Lighting up the solar industry, a California agency on Thursday approved $2.9 billion in solar incentives to encourage consumers to switch to sun power, creating the largest solar-incentive program in the United States.

Matthew Cheney, CEO of Renewable Ventures, a VC firm in San Francisco, said the initiative fails to address some of the short-term challenges.

“Although the level of financing provided by the initiative will certainly help, more efficient technology options and creative financing structures will be necessary to drive adoption of solar projects in the face of global competition for limited solar supply,” he said. Read >>