SolarCity announced today the closing of a new fund to finance $400 million in solar projects. The company, which recently acquired Mexico-based solar installer ILIOSS, has been perfecting the art of raising money for solar installations and now says it has raised enough funds to finance more than $9 billion in solar projects.
The company is using a few different methods to raise funds including selling bonds to its sister-company SpaceX, which recently bought $75 million of what SolarCity calls “solar bonds”.
The new fund is one of the biggest of its kind only surpassed by a $750 million fund created by the company earlier this year, in which Google invested $300 million.
The company is currently building a giant factory in Buffalo to produce 1 GW of high-efficiency solar modules per year.
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