Ygrene Energy closes $145 million private securitization transaction

By Tali Rackner

Norfolk, Va., Nov. 15 – Ygrene Energy Fund Inc. announced the completion of a $145 million private securitization transaction with strategic insurance partner, Global Atlantic Financial Group, by issuing privately rated class A notes, according to a press release.

The transaction is the company's second property-assessed clean energy (PACE) securitization to combine both residential and commercial assets in multiple states, including California and Florida.

This securitization funds about 6,041 energy and water conservation projects, providing home and business owners with more than $290 million in estimated savings on energy and water bills, and eliminating more than 174,000 metric tons of CO2 from the atmosphere, the release said.

"We are excited to complete our second private PACE securitization with Global Atlantic," CEO Stacey Lawson said in the release.

"By combining residential and commercial assets in multiple states, we are able to offer a powerful tool that will help property owners across the country save energy and money, communities meet their environment goals and create local jobs, and ensure a high quality return for investors."

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

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