Abound Solar raises $110m from oil group BP and other consortium members, as well as $400m in a state loan.
UK-listed oil group BP’s corporate venturing unit has joined the consortium investing $110m in Abound Solar, a US-based company developing solar panel modules that has now raised $260m in equity in three years.
Abound, formerly known as AVA Solar, has also closed $400m in loan guarantee from the US Department of Energy to expand its manufacturing to a second plant making thin-film solar photovoltaic modules (pictured).
Justin Adams, head of BP Alternative Energy Ventures, by email said: "The size…
