US solar industry news : Navisun, a solar power company has acquired OSG Solar I, a 2.746MW solar project in Orange, Massachusetts for an undisclosed price.

OSG Solar I project has been in producing power since mid-2012. Through the acquisition, Navisun has started its mission to create a portfolio of solar power projects in the US.

Navisun says that New York-based private equity firm Ares Capital Corporation has helped it with financing, which it will use to develop, build, acquire, own, and operate solar power projects in the country.

John Malloy- Managing Partner and Co-Founder of Navisun, said: “Receiving financing from Ares Capital was a significant milestone for Navisun.

“At a time when it is difficult for a new company to obtain traditional financing, Ares Capital provided a flexible capital solution that allows us to execute our business plan of becoming a market leader in the distributed and small utility scale solar power sector.”

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  Massachusetts, Navisun, Orange, OSG Solar I, Solar industry news, Solar power plant