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Beringea invests $4m in solar PV developer Cross Solar

9 Mar 2012

Venture capital investor Beringea has invested $4m in Cross Solar, a residential rooftop solar photovoltaic developer managed by UK-based ISIS Solar.

The company claims to be one of the UK’s largest residential solar developers and its business model rests on offering free installation to homeowners and receiving payments through the feed-in tariff scheme.

Karen McCormick, an investment director in Beringea’s London’s office, who led the deal and will be joining the Cross Solar board of directors said, ‘We are delighted to be working with the ISIS management team in Cross Solar.

‘ISIS has a very strong track record and is one of the most experienced small-scale PV developers in the UK.

‘Solar is a sensible alternative to our unsustainable dependence on fossil fuels, and we believe residential solar PV represents a strong commercial investment based on the government’s revised FIT programme.’

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