ESolar Gets $22 Million Investment to Fund Expansion Effort

Sept. 17 (Bloomberg) -- ESolar Inc., the General Electric Co.-backed maker of concentrated-solar systems, received $22 million from existing investors including Oak Investment Partners to expand in the Middle East and North Africa.

ESolar also will use the funds to develop its next-generation heliostat model, the closely held Burbank, California-based company said today in a statement.

GE bought a minority stake in the company in 2011.

To contact the reporter on this story: Justin Doom in New York at jdoom1@bloomberg.net

To contact the editor responsible for this story: Reed Landberg at landberg@bloomberg.net