Sungevity Declares Bankruptcy, Sells Assets, Gains Up To $20M to Continue ‘Uninterrupted’ Operations

Last week, GTM’s Julian Spector asked who might want to buy the remaining assets of solar sales and installation company Sungevity at a discount.

The answer is Northern Pacific Group.

Sungevity just filed for Chapter 11 protection and entered into a court-ordered “asset purchase agreement” led by Northern Pacific Group that promises up to $20 million to fund day-to-day operations.

Another way to look at that is that whatever remains of Sungevity just got sold for up to $20 million. Sungevity had raised a total of $850 million in VC and project financing, with an estimated $200 million of that coming as …read more

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