tenKsolar, a producer of commercial rooftop solar solutions, announced that it has received an initial investment from funds managed by Oaktree Capital Management’s GFI Energy Group.
tenKsolar, a producer of commercial rooftop solar solutions, announced that it has received an initial investment from funds managed by Oaktree Capital Management’s GFI Energy Group.
Oaktree’s investment will support tenK’s rapid growth by expanding production capacity and sales and marketing efforts to increase its customer base and accelerate market penetration. Terms of the investment were not disclosed.
tenK’s proprietary and differentiated low-voltage technology generates up to 40% more kWh per square foot of roof space at a lower cost than conventional solar offerings. Overall, the system outperforms conventional solar power across all key metrics, including density of energy, cost, reliability and safety.
The commercial rooftop solar market is rapidly growing, and tenK is focusing its efforts on growing its marketshare in the market. Oaktree’s investment provides it the capital necessary to quickly and efficiently expand.
Oaktree’s GFI Energy Group strategically invests in the electric and natural gas sectors, with a long history of investments in the renewable energy segment. The group partners with the management teams of leading companies well-positioned to capitalize on growth opportunities in their target markets. The group brings deep capital resources, clear strategic focus and long-standing industry relationships to its portfolio investments.