Sunvalley Solar acquires Rayco Energy

Sunvalley Solar has announced the completion of its acquisition of Rayco Energy. Northern California based Rayco Energy is specializes in providing cost-saving and ENERGY efficient solutions, including LED lighting, Solar Thermal and Solar Electricity, to local communities and business units.

The acquisition will be funded through the issuance of restricted shares of SSOL Series B Preferred stock and $350K in cash. The cash portion is conditional upon the 2016 net operating profit of Rayco Energy, Inc, as a wholly-owned subsidiary of the Buyer.

Rayco Energy combines energy efficiency measures with renewable energy sources, and services the multi-family sector (Apartments, Homeowner Associations (HOA)) and small-sized commercial projects. These two sectors are currently underserved and have high growth patterns predicted over the next 10 years as land becomes more expensive and urban density increases in Northern and Southern California.

James Zhang, CEO/President of SSOL, said  “The acquisition will not only expand our existing solar business footprint from mainly Southern California to Northern California, it will also expand our business coverage from commercial solar systems to the residential and multi-family sectors The acquisition will accelerate Sunvalley’s revenue growth and business expansion. We are very excited about adding additional experienced management and EPCM professionals to our Sunvalley team.” Rayco energy business is expected to contribute significantly to Sunvalley’s revenues in 2016.