News & Press
Borrego Solar Systems Named One of America's Fastest-Growing Companies by Inc. Magazine
Leading Financier, Designer and Installer of Commercial & Government Solar Electric Systems Ranked 985, As Demand For Its Solar Energy Installation Services Grows
FOR IMMEDIATE RELEASE
San Diego, CA—August 21, 2012
SAN DIEGO, Calif.â€“August 21, 2012â€”Borrego Solar Systems, Inc., a leading designer, installer and financier of grid-tied solar photovoltaic (PV) systems, has been named one of America’s fastest-growing companies by Inc. Magazine. Ranked number 985, Borrego Solar grew at a rate of 322 percent over the past three years. Borrego Solar also ranked 18 amongst San Diego-based businesses and 35 amongst energy companies.
“The electricity supply markets have been dynamic throughout the last year. We are pleased to see that demand for our financing, design and installation services has never been higher,” said Aaron Hall, President of Borrego Solar Systems, Inc. “To be included in the Inc. Magazine 500/5000 rankings is a testament to our team’s commitment to delivering the highest quality services to organizations looking to hedge against rising energy costs and reduce their carbon footprint with solar energy.”
Borrego Solar finished 2011 with $110 million in revenue. Throughout 2011, and into 2012, the company has made significant project finance progress, announcing it had secured more than $225 million to-date to finance its power purchase agreement offering for commercial and public sector organizations. The company also expanded into new industries, completing a 2.3 megawatt (MW) landfill project in Easthampton, Mass. and a 3.4 MW project at Edwards Air Force Base in California. Borrego Solar also expanded into new regions, signing its first customers in Texas, Maryland and Indiana. Borrego Solar was also the first solar company to complete a multi-megawatt rooftop installation in the Southern California Edison (SCE) PV Program: a reverse auction program implemented to meet the utility’s renewable portfolio standard.
"Now, more than ever, we depend on Inc. 500/5000 companies to spur innovation, provide jobs, and drive the economy forward. Growth companies, not large corporations, are where the action is,” says Inc. Editor Eric Schurenberg.
The 2012 Inc. 500|5000 is ranked according to percentage revenue growth when comparing 2008 to 2011. To qualify, companies must have been founded and generating revenue by March 31, 2008. They had to be U.S.-based, privately held, for profit, and independentâ€”not subsidiaries or divisions of other companiesâ€”as of December 31, 2011. (Since then, a number of companies on the list have gone public or been acquired.) The minimum revenue required for 2008 is $100,000; the minimum for 2011 is $2 million. As always, Inc. reserves the right to decline applicants for subjective reasons. Companies on the Inc. 500 are featured in Inc.’s September issue. They represent the top tier of the Inc. 5000, which can be found at www.inc.com/500.
Founded in 1979 and acquired in 2005 by Mansueto Ventures, Inc. is the only major brand dedicated exclusively to owners and managers of growing private companies, with the aim to deliver real solutions for today’s innovative company builders. Total monthly audience reach for the brand has grown significantly from 2,000,000 in 2010 to over 6,000,000 today. For more information, visit www.inc.com.
About the Inc. 500|5000 Conference
Each year, Inc. and Inc.com celebrate the remarkable achievements of today’s entrepreneurial superstarsâ€”the privately held small businesses that drive our economy. The Inc. 500|5000 Conference & Awards Ceremony brings together members of the Inc. community, both a new class of Inc. 500|5000 honorees and the list’s alumni, for three days of powerful networking, inspired learning, and momentous celebration. Please join us October 3â€“5, 2012, at the JW Marriott Desert Ridge Resort & Spa in Phoenix, Arizona. For more information about the 2012 Inc. 500|5000 Conference & Awards Ceremony and to register, visit www.inc500conference.com or call 866-901-3205.
About Borrego Solar
Established in 1980, Borrego Solar Systems, Inc. is one of the nation’s leading financiers, designers and installers of commercial and government solar power systems. Borrego Solar’s photovoltaic systems are efficient, reliable and cost-effective. With more than three decades of experience and more than 1,000 solar power installations completedâ€”totaling more than 60 MWâ€”Borrego Solar offers a complete line of solar systems design and installation services throughout California, New England, the Mid Atlantic and Texas. For more information, visit www.borregosolar.com.
â€œThe electricity supply markets have been dynamic throughout the last year. We are pleased to see that demand for our financing, design and installation services has never been higher. To be included in the Inc. Magazine 500/5000 rankings is a testament to our teamâ€™s commitment to delivering the highest quality services to organizations looking to hedge against rising energy costs and reduce their carbon footprint with solar energy.â€
President of Borrego Solar Systems, Inc.