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.
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.