Press Releases

CleanFund to Offer PACE Financing to Ten K Solar Development Partners

Ten K Solar and CleanFund announced a PACE Financing partnership that will provide PACE financing to Ten K’s growing pipeline of projects. The agreement accelerates solar adoption of commercial building owners by providing them access to Ten K Solar products with all the benefits and flexibility of PACE financing.

CleanFund Commercial PACE Capital is the #1 direct provider of long-term financing for energy efficiency, water conservation, renewable energy and seismic improvements to commercial, multifamily and other nonresidential properties in the U.S. CleanFund’s SolarPACE financing product typically delivers the highest net present value (NPV) and greatest near-term positive cash flow of any solar financing or acquisition option.

Asia Clean Capital and Ten K Solar Sign Exclusive China Partnership

Asia Clean Capital (ACC) and Ten K Solar announced an exclusive distribution agreement for the Mainland China market. Under the terms of the Agreement ACC will develop solar projects in China using Ten K’s patented solar technology, and Ten K will provide equipment for the projects from its Shanghai production facility. The cooperation is anticipated to achieve 40MW of installed capacity within the next eighteen months, with further increases in production capability and sales pipeline forecast thereafter.

Asia Clean Capital Ltd. is a leading clean energy solutions developer that serves large multinational and domestic firms throughout China. Focused on rooftop solar projects, ACC invests 100 percent of the project costs and provides the design, engineering, equipment, government approvals, installation, and long-term maintenance of solar systems. ACC has offices in Beijing and Hong Kong.

Locus Energy Announces Strategic Partnership with Ten K Solar

Locus Energy, a leading solar data and analytics platform provider, and Ten K Solar, the company maximizing value in commercial rooftop solar, today announced a partnership that makes Locus’ broad and scalable solar fleet management solutions and Virtual Irradiance available to current and future Ten K customers.

The partnership enables Ten K customers to upgrade their entire fleet of PV systems to SolarNOC™, Locus’ best-in-class asset management platform. SolarNOC is a cloud-based application that provides installers and fleet managers the tools they need optimize fleet performance remotely. SolarNOC’s monitoring and analytic capabilities bring added value to the operation and maintenance (O&M), customer service, and marketing efforts of solar EPC’s and integrators through a consolidated interface that provides real-time energy and weather data, system alerts, and performance trends.

NRG Energy Announces Completion of Largest Rooftop Solar Array in US

NRG Energy, Inc. (NYSE: NRG) and MGM Resorts International (NYSE: MGM) today announced the completed expansion of the nation’s largest rooftop solar array. On the roof of the Mandalay Bay Convention Center, the expanded solar array has more than 26,000 photovoltaic panels and produces a combined 8.3 MW dc (6.5 MW ac) of electricity, a new national record for rooftop arrays. At full production, the system supplies 25% of the power demand of the entire Mandalay Bay Resort & Casino campus.

The expanded project uses technology from Ten K Solar. Ten K’s REFLECT™ system consists of 4,644 Modules, 180 inverters and a fully integrated Ten K racking system with no roof penetrations. The racking system uses 3M Cool Mirror Film™ to reflect only the light wavelengths usable by the photovoltaic cells. Ten K’s parallel cell and module architecture allows for modules to capture non-uniform irradiance coming from reflected light. The architecture further eliminates any single points of failure, increasing total system availability and reducing operation and maintenance costs.

Ten K Solar Appoints Jeffrey J. Hohn CEO

Ten K Solar, a leader in commercial rooftop solar technology, announced that Jeffrey J. Hohn has joined the Company as Chief Executive Officer, effective June 1. Hohn, who formerly served as VP and General Manager of 3M’s Renewable Energy Division, will succeed Joel Cannon, a Co-Founder of Ten K Solar. Going forward, Cannon will serve as Ten K’s Chief Strategy Officer and remain on the Company’s Board of Directors.

“I am honored to be selected as the next CEO of Ten K Solar. The opportunity for the Company is tremendous, and the ability to lead this next chapter is both humbling and exhilarating,” Hohn said. “I am focused on accelerating the innovation and execution that our customers require. Ten K has a history of creating industry-leading products, and I couldn’t be more confident in our ability to rapidly grow this great company.”

Goldman Sachs Investment Adds to Ten K Solar’s Market Momentum

Ten K Solar, Inc., the company maximizing value in commercial rooftop solar, today announced the completion of a $25 million equity investment led by Goldman Sachs & Co’s Alternative Energy Investing Group. The company will use the investment to support its rapidly expanding US and international operations. Ten K just completed its third consecutive year of triple digit growth and is rapidly establishing a new standard for safety, reliability and energy density on large-scale rooftop solar projects.

Goldman Sachs joins the company’s already strong investment backing from funds managed by Oaktree Capital Management, L.P. (Oaktree), a leading private equity investor in the US and Greencoat Capital, one of the largest private equity investors in the renewable energy space in Europe. Piper Jaffray & Co. served as Ten K’s financial advisor for this transaction.