PosiGen in Baton Rouge to install over 500 solar systems after solar energy company receives $20M

Updated: Apr. 16, 2019 at 3:11 PM CDT
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BATON ROUGE, LA (WAFB) - A New Orleans based solar energy company that recently opened a Baton Rouge office received $20 million in funding to install solar systems in Louisiana.

PosiGen, which offers low-cost solar system loans for low-to-middle income families, announced Tuesday it received the tax equity investment from GAF Energy. The funding will support the installation of about 2,500 new solar systems and energy efficiency upgrades to homes in Connecticut, Florida, Louisiana and New Jersey.

RELATED: Solar energy group PosiGen opening first Baton Rouge office

Five hundred of these solar systems will go toward the Greater Baton Rouge area, according to a PosiGen spokesperson. Some of the funding will go toward hiring five more sales representatives and an additional sales administrative position at the Baton Rouge sales office. The funding will also accelerate the opening of the Baton Rouge operations center.

PosiGen was founded in 2011 and headquartered in New Orleans. According to the company’s press release, Posigen has served over 14,000 customers.

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