SolarCity secures $40 million solar renewable energy certificate

By Lisa Kerner

Charlotte, N.C., April 4 – SolarCity Corp. closed a solar renewable energy certificate transaction on Friday that will provide up to $40 million of residential and commercial solar funding.

The financing will monetize the stream of SRECs produced by a portion of SolarCity’s underlying projects, according to a news release.

SolarCity did not disclose the name of the international banking partner.

“Solar renewable energy certificates have economic value that can be monetized and this first of its kind, stand-alone financing is evidence of the maturity of the SREC market,” said Ron Klein, vice president, capital markets of SolarCity, who led the transaction.

Based in San Mateo, Calif., SolarCity is a provider of clean energy.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.