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SPG Holdings closes $13m financing deal 
By
 
Agencies  on 7/2/2009 

SPG Holdings yesterday announced the closing of a $13 million (Dh48m) equity financing through the Global Environment Fund and Robeco.

SPG Holdings includes SPG Solar, engaged in design and installation of photovoltaic power systems, and Thompson Technologies Industries, which designs, manufactures and sells photovoltaic products.

SPG Holdings is utilising the funds to support growth. The funding will continue to allow the company to secure the appropriate level of materials and resources to continue supporting its development plans for business.

"The solar industry appears to be on the verge of its largest growth cycle," says Thomas Rooney, the Chief Executive Officer of SPG Solar.

"We want to capture that growth and expand SPG Holdings along with it. When we look back 10 years from now, we'll probably see growth that will have eclipsed the advances of the past eight years.

"With a pro-solar administration in Washington and new markets emerging worldwide, the expansion opportunity for solar energy is favourable."

 

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