SolarCity closes second financing with Bank of America Merrill Lynch

By Lisa Kerner

Charlotte, N.C., April 7 – SolarCity Corp. said it closed the second financing within its renewable energy tax equity investment program with Bank of America Merrill Lynch and another investor.

The program will finance about $188 million in solar projects, covering the capital cost of the solar equipment and installation for thousands of homeowners, according to a news release.

The tax equity investment program is part of Bank of America’s current 10-year, $125 billion environmental business initiative to advance low-carbon economic solutions through lending, investing and facilitating capital for clients worldwide.

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

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