Residential solar installer Vivint Solar has secured a syndicated tax equity investment arranged by RBC Capital Markets.
The company says the $100 million commitment will finance residential solar systems totaling more than 55 MW.
"We believe this tax equity raise, along with the recent $360 million multi-party forward flow funding arrangement, reflects the capital markets' and our investors' continued confidence in Vivint Solar's sustainable growth model," said David Bywater, Vivint's CEO, in a statement.
He was referring to a deal announced in June, in which Bank of America Merrill Lynch acted as placement agent and sole tax equity investor and Hannon Armstrong stepped in as cash equity investor (PFR, 6/5).
RBC's tax equity team is led by Julian Torres, who has been with the bank since 2015 and is a director in New York.
"Vivint Solar has a leading residential solar platform that we are pleased to support with our tax equity capital alongside that of our co-investors," he said in a statement.