Securitization

SolaREIT, a Maryland-based solar real estate investment fund, has closed a $100 million securitization of solar leases with Nuveen.

Rayburn Electric County Coop, a Texas-based electric generation and transmission cooperative that suffered massive losses due to winter storm Uri last February, has closed a $908 million securitization.

PNM, the New Mexico utility subsidiary of PNM Resources, has filed a notice of appeal with the New Mexico Supreme Court after the utility’s application to divest its interest in the Four Corners coal-fired power plant was denied by the New Mexico Public Regulation Commission (NMPRC).

Vivint Solar's former chief commercial officer and head of capital markets, Thomas Plagemann, has joined a Louisiana-based residential solar developer as its CFO.

Sunnova Energy has priced its fifth securitization backed by residential solar loans totaling $155.8 million.

Sunrun has increased the size and reduced the pricing of its non-recourse warehouse loan with a syndicate of eight financial institutions.

Sunrun has closed a residential solar lease securitization under the name Sunrun Demeter 2021-2.

The solar ABS sector is set to hit a new record for issuance volumes in 2021 with the addition of Sunrun and Solar Mosaic’s transactions, as a wider pool of institutional investors join the market, encouraged by more frequent ratings from the three major credit rating agencies.

Sunnova Energy International is preparing to launch its fourth securitization backed by residential solar loans.

MUFG has introduced a new CLO asset class, bundling $500 million of project finance and infrastructure loans together for Starwood Property Trust in a deal that clearly demonstrated investor appetite for the product.