Ygrene Energy Fund gets $30 million to support PACE financing program

By Lisa Kerner

Charlotte, N.C., March 10 – Ygrene Energy Fund raised $30 million in operating capital from new and existing investors, bringing the total operating and project capital it has raised to more than $530 million.

The operating capital will fund Ygrene’s continued national expansion of its YgreneWorks program, including business and call center operations and a new solar operations arm.

YgreneWorks, a PACE financing program, provides financing for energy efficiency, water conservation, renewable energy and hurricane protection retrofits for homes and businesses.

Since its inception, YgreneWorks has approved more than $1 billion in applications for more than 21,000 buildings and has completed $300 million in contracts nationally, the release stated.

Ygrene said it is the largest commercial PACE provider in California and Florida.

“This is a time of explosive growth for PACE, as property owners, investors, cities and states signal the need for sophisticated clean energy finance vehicles that meet their unique requirements,” said Stacey Lawson, president and chief executive officer of Ygrene.

Ygrene develops and administers clean energy financing programs. The company is based in Santa Rosa, Calif.

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