IGS Solar and ORIX USA Partner to Expand National Commercial Solar Footprint
Dublin, OH, March 28, 2017 – IGS Solar, a leading turnkey commercial and residential solar provider based in Ohio, and ORIX USA, an affiliate of diversified financial company ORIX Corporation (NYSE: IX), have partnered to develop, acquire, own, and operate a nationwide portfolio of commercial and industrial solar energy projects.
With a shared philosophy to address the solar needs of small- to medium-sized commercial-scale power users, the two firms look forward to making strides in meeting the growing appetite for solar projects in this market. The financing product offered by this new joint venture provides a way for parties unable to take advantage of the solar Investment Tax Credit or other incentives to participate in solar energy projects through a capital-free approach with long-term savings on their electricity costs.
“We look forward to serving as a long-term partner with IGS Solar as we both expand our solar energy footprint across the country. Together, we are well-positioned to reach more of the commercial and industrial solar market,” said Barry Gold, managing director of ORIX USA’s infrastructure investment team.
According to Scott White, president and CEO of IGS, “Our alignment with ORIX fits closely with our long-term approach. We share the same culture of innovation, commitment to delivering exceptional customer experiences, and making solar accessible, particularly to organizations that haven’t previously been able to consider it due to the upfront costs,” he said. The partnership was made possible through advisement by Marathon Capital, “who was very effective in advising through the entire process,” explained White.
About IGS Solar
IGS Solar, a turnkey commercial and residential solar provider with significant solar assets under development, provides businesses, homes, and communities with an opportunity to participate in creating a sustainable energy future with no upfront investment. As an affiliate of IGS Energy, IGS Solar is dedicated to delivering innovative solar energy solutions. For more information, call (866) 801-9928 or visit IGSsolarpower.com.
About ORIX USA
ORIX USA is a wholly-owned subsidiary of ORIX Corporation, a Tokyo-based, publicly-owned international investment and financial services company that was founded in 1964 and currently operates in 37 countries and regions worldwide. ORIX Corporation is listed on the Tokyo (8591) and New York Stock Exchanges (IX). As ORIX Corporation’s subsidiary operating in the Americas, ORIX USA invests its capital in a variety of sectors – including infrastructure and renewable energy. ORIX USA’s infrastructure and renewable energy investment team has deep expertise in the sector and the ability to structure transactions in flexible ways that work for all parties.