Capstone Turbine (NASDAQ: CPST) this morning announced its strategic financing relationship agreement with Sky Solar Holdings (NASDAQ: SKYS) and Sky Capital America, Inc., a Sky Solar subsidiary, to provide funding to Capstone Turbine’s Capstone Energy Finance (“CEF”) joint venture. Among other terms of the agreement, Sky Group has first right of refusal to provide funding of up to $50 million, which may be extended by an additional $100 million at Sky Group’s sole discretion for various CEF projects on a global basis after Capstone and CEF have exhausted internal funding sources of up to $25 million. “Capstone’s new finance subsidiary has developed a twenty million dollar pipeline of well-qualified projects since its launch last December, and we expect to quickly surpass our ability to fund projects with our internal resources,” Darren Jamison, Capstone’s president and CEO, stated in the news release. “We have looked at several potential partners and, after months of due diligence and discussions with several companies, we have selected Sky Solar because we believe they have the right skill set, ability, experience and global reach to help us successfully grow our Capstone Energy Finance business over the next three years.”
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About Capstone Turbine Corporation
Capstone Turbine Corporation (NASDAQ: CPST) is the world’s leading producer of low-emission microturbine systems and was the first to market commercially viable microturbine energy products. Capstone has shipped approximately 8,800 Capstone Microturbine systems to customers worldwide. These award-winning systems have logged millions of documented runtime operating hours. Capstone is a member of the U.S. Environmental Protection Agency’s Combined Heat and Power Partnership, which is committed to improving the efficiency of the nation’s energy infrastructure and reducing emissions of pollutants and greenhouse gases. A UL-Certified ISO 9001:2008 and ISO 14001:2004 certified company, Capstone is headquartered in the Los Angeles area with sales and/or service centers in the United States, Latin America, Europe, Middle East, China and Singapore. For more information, visit www.capstoneturbine.com
About Sky Solar
Sky Solar is a global independent power producer (“IPP”) that develops, owns and operates solar parks around the world with broad geographic reach and an established presence across several key solar markets. Sky Solar has developed and completed more than 250 MW of solar parks in various countries and has over 150 MW of IPP assets in operation globally. For more information visit www.skysolargroup.com
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