Kilowatt Financial announces $200 million debt warehouse facility

By Tali Rackner

Norfolk, Va., April 29 – Kilowatt Financial, LLC closed on a $200 million debt warehouse facility with Citigroup to finance residential solar power systems for homeowners, according to a press release.

Together, Kilowatt and Citi expect to create asset-backed securities from the loans and to develop a market for institutional investors to provide long-term, low-cost capital to finance residential solar power.

In February, Citi announced a goal to lend, invest and facilitate a total of $100 billion within the next 10 years to finance activities that reduce the impacts of climate change and create environmental solutions that benefit people and communities, according to Citi global head of alternative energy finance Marshal Salant.

Wayzata, Minn.-based Kilowatt Financial provides consumers with financing for solar electricity and energy-efficient home improvements.

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