-
Sunnova Energy has secured a $244 million securitization for its Hestia I solar project, which includes the development of 587MW of distributed generation energy resources (DERs) and associated software in Puerto Rico.
-
Sunnova Energy Corporation intends to offer a $400 million green bond to finance or refinance existing and new projects.
-
Sunrun, a provider of residential solar, storage and energy services, has priced a $715 million securitization of leases and power purchase agreements, known as Sunrun’s solar-as-a-service offering.
-
New York-based DSD Renewables (DSD) has raised $155 million in debt financing for its first commercial and industrial (C&I) solar-asset-backed securitization (ABS).
-
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.
-
Securitization exists in the public consciousness primarily as a shadowy corner of the capital markets in which out-of-control financial engineering causes global economic meltdowns. Could it be due a reappraisal?
-
Residential solar finance company Mosaic’s foray into the recently reopened asset-backed securitization market was well received by investors, reaping a multiple-times oversubscribed order book, in part thanks to data that shows the pandemic having a limited impact on solar loans.
-
One of the first pieces of advice a retail stock investor receives after opening their first brokerage account or downloading the Robinhood app is not to try to “time the market.” But in corporate finance – especially during weak markets – timing is everything. If a window of opportunity opens after a period of volatility, you go for it.
-
Solar finance company Sunnova priced the first solar securitization of 2020, a $313.5 million dual-tranche offering, on Feb. 5.
-
While yield-hungry investors of all stripes are viewing distributed, small-scale solar companies ever more favorably, the founders and management of the target companies are finding that there are attractive alternatives to selling stakes in their businesses outright.
-
Residential solar finance company Sunrun is preparing a $312.4 million securitization deal backed by a portfolio of leases and power purchase agreements, marking the first time the issuer has tapped the ABS market twice in one year.
-
Solar finance company Mill City completed a $217.89 million residential solar loan securitization on July 24, bringing year-to-date volume of solar ABS to over $1.3 billion.
-
Residential PACE provider Renew Financial has promoted Mary Kathryn Lynch, who has worked in finance and capital markets at the company for about three-and-a-half years, to the position of CFO.
-
Andy Redinger and Daniel Brown, managing directors at KeyBanc Capital Markets, discuss residential solar finance, including the latest trends in M&A and the future of the sector.
-
Sunrun is preparing to refinance an 88 MW portfolio of "seasoned" residential solar assets with its latest securitization, a $204 million deal backed by leases and power purchase agreements.
-
A former global co-head of infrastructure and energy structured credit at Deutsche Bank is starting the New Year with a job at a distressed credit investor.
-
Residential solar developer Sunrun priced its second ever securitization on Dec. 12, Sunrun 2018-1, a $378.5 million offering backed by leases and power purchase agreements tied to rooftop solar systems.
-
A trio of solar securitizations is progressing through the pipeline this week, giving investors a chance to get their hands on nearly $1 billion of bonds tied to residential solar assets.
-
A deal from solar finance company Sunnova that was priced at the end of last week and a first-time residential solar securitization from Hannon Armstrong, announced on Monday, are rekindling the market for solar ABS in the fourth quarter.
-
Residential rooftop solar developer Sunnova is in the market this week with its second securitization, a $262.7 million offering backed by a pool of leases and power purchase agreements.
-
Tesla has hired a capital markets professional who previously worked in project finance at a solar developer in California.
-
Brad Nordholm is leaving Starwood Energy Group Global, the private equity business he used to run as ceo, to take up the position of chief executive at the Federal Agricultural Mortgage Corp., also known as Farmer Mac.
-
Just as one robin (or, depending on your geographic location, swallow) doesn’t make a spring, two project finance CLOs (PF CLOs)—Bayfront Infrastructure and RIN—may not confidently mark the re-emergence of PF CLOs. They are, nevertheless, a positive and potentially significant development, writes Paul Forrester, Chicago-based partner at Mayer Brown.
-
Residential solar developer Sunrun will launch a securitization backed by leases and power purchase agreements within the next month, say deal watchers.
-
Mosaic and Goldman Sachs priced a co-sponsored solar loan securitization on Monday, a $317.52 million deal dubbed Mosaic Solar Loan Trust 2018-2-GS.
-
Goldman Sachs and residential solar finance firm Mosaic are preparing to jointly issue a new solar loan securitization.
-
Credit Suisse was sole arranger on a privately placed solar securitization that Vivint issued alongside its public market debut last week.
-
The #PowerTweets feature tracks trends in project finance and M&A in the Americas on Twitter.
-
Solar finance company Mosaic is preparing to issue its first securitization of 2018.
-
Tesla priced the latest securitization from its SolarCity subsidiary on Friday, pushing total solar asset-backed securitization volume beyond $1.5 billion in 2017 as secondary market activity gradually builds.
-
Investors are eager for a slice of Tesla’s latest solar asset-backed securitization from its SolarCity subsidiary, say industry sources, but solar ABS volume could remain limited in 2018 unless the challenge of securitizing commercial and industrial-scale solar assets can be cracked.
-
The Inter-American Development Bank is evaluating a possible 1 billion peso ($52 million) warehousing loan to finance a portfolio of small-scale solar projects in Mexico with a view to supporting a subsequent securitization in the local capital markets, a model the development bank has used for previous projects.
-
Tesla priced an asset-backed securitization offering backed by solar lease and power purchase agreements originated by its SolarCity subsidiary on Nov. 3, selling the bonds at the tight end of price guidance.
-
Bookrunners issued pricing guidance on Tuesday for an ABS offering by Tesla backed by leases and power purchase agreements originated by its SolarCity subsidiary.
-
Mosaic sold a solar loan securitization at tight spreads on Wednesday, as investors report that the market for solar and Property Assessed Clean Energy (PACE) is turning into a food fight amid heavy demand and low supply.
-
Dividend Solar priced its first solar ABS transaction at the end of last week, as market chatter around the asset class increases on the back of rumors of more issuance during last month’s ABS East industry conference.
-
The U.S. International Trade Commission sent shockwaves through the solar industry when it found injury to the domestic crystalline silicon solar cell industry, based on a petition bought by bankrupt manufacturers Suniva and SolarWorld, on Sept. 22.
-
Spruce Finance, which finances residential solar and energy efficiency projects in the U.S., sold a $250 million loan portfolio to an undisclosed North American bank on June 21.
-
Solar lending platform Mosaic is preparing to launch its second asset-backed securitization just four months after sealing its inaugural ABS offering.
-
Solar and Property Assessed Clean Energy (PACE) experts at the IMN Green Investing Conference on Thursday noted that both markets will see more participation as issuance accelerates and the sectors become more sophisticated.
-
Houston-based residential solar finance company Sunnova priced a debut asset-backed securitization this week, putting the issuance volume of solar ABS year to date higher than in the entirety of 2016.
-
Goldman Sachs has been hired for a potential sale of Spruce Finance, say deal watchers.
-
Paige Wisdom, the former chief enterprise risk officer at Freddie Mac, has joined residential Property Assessed Clean Energy (PACE) lender Renovate America as cfo.
-
There is plenty of room for growth in commercial solar securitization, SFIG Vegas attendees heard on Tuesday, and lenders need capital markets access to fund it. But the lack of scale in the market is a key hurdle, creating a ‘catch 22’ situation.
-
The #PowerTweets feature tracks trends in power project finance and M&A in the Americas on Twitter.
-
SolarCity has announced a $145 million asset backed securitization, bringing deal flow in the year to date to two offerings and putting the first month of the year on par with activity in all of 2016.
-
California-based solar finance company Mosaic is preparing to hit the ABS primary market with an offering backed by loans on residential rooftop solar systems, the first such transaction since early 2016.
-
BNP Paribas Capstar Partners U.S. has begun to deploy its own capital in renewable tax equity transactions, following a corporate restructuring of its parent company's U.S. operations.
-
Spruce Financial has mandated Citigroup as the lead on its first securitization deal.
-
Credit Suisse has emerged as the supplier of a roughly $60 million warehouse facility for SunPower in preparation for the company's inaugural asset-backed securitization of a portfolio of residential solar leases.
-
Solar financiers converged on the New York Marriott Downtown Thursday for the Information Management Network's 4th Annual Sunshine Backed Bonds Conference.
-
Investors and bankers discussed the possibility that money divested from fossil fuels by institutional investors could find its way into green investments at the Bloomberg New Energy Finance Summit in New York on April 5.
-
Canadian Solar is considering the sale of approximately $2.5 billion of assets or a securitization deal as alternatives to its plan to monetize its assets by creating a yieldco.
-
Shares in SolarCity plunged 29.3% in trading on Wednesday after the rooftop solar company announced it had fallen short of its guidance for growth in the fourth quarter of 2015.
-
SolarCity, the largest residential solar developer in the US, has priced a $185 million securitization, the first backed entirely by loans made to homeowners for the financing of solar panel installation.
-
SolarCity, the largest residential solar developer in the U.S., is marketing a $185 million securitization, the first backed by loans made to homeowners to finance solar panel installations.
-
Standard & Poor’s has downgraded SunEdison’s developed market yield company TerraForm Power to B+ and warned that the rating could fall further.
-
SunRun is launching a $230 million aggregation facility this week in a deal being arranged by Investec.
-
Sunnova has raised $300 million in debt and equity financing and is preparing for an asset backed securitization.
-
Trevor D’Ollier Lees, a director at Standard & Poor’s, began one of the first sessions of the day at Solar Capital Markets 2015 by introducing a new analogy to illustrate how the solar securitization market had developed since last year’s summit.
-
Developers, lawyers and senior rating agency analysts discussed challenges tax equity structures pose to solar securitizations at Infocast’s Solar Capital Markets summit in New York on Oct. 15.
-
Residential solar loan platform Sunlight Financial has sealed $300 million in equity and debt and plans to launch an asset-backed securitization.
-
8minutenergy is contemplating adding securitization to its financing repertoire, and not just for small-scale commercial and industrial assets but also utility-scale projects.
-
AES Corp. is set to become the first utility company to tap the growing market for securitizations of solar assets, the company has confirmed.
-
SolarCity has opted for a different structure for its fourth securitization, a deal that market participants say is a sign the market is evolving and should lead to more frequent solar asset backed security issuance.
-
The state of Hawaii has finalized a $150 million securitization and will use proceeds to finance development of renewable infrastructure, including distributed generation.
-
It was a $7 billion week for power companies in the capital markets. Dynegy launched a multi-tranche $5.1 billion high yield bond sale to pre-fund its acquisition of 12 GW from Duke Energy and Energy Capital Partners.
-
A pair of energy efficiency securitization deals is percolating at Citigroup that could hit the market in the next six months.
-
The #PowerTweets feature tracks trends in power project finance and M&A in the Americas on Twitter.
-
Solar developers with residential solar pipelines will be looking for tax equity in the next two years at a rate that could squeeze the existing liquidity in the market, according to panelists at IJGlobal’s North America Energy & Infrastructure Financing Forum in New York.
-
Hannon Armstrong Sustainable Infrastructure is planning to issue additional shares and tap the securitization market as it looks to expand its portfolio and increase the company’s leverage.
RECENT ARTICLES
Recent Articles |
|