Kilowatt Financial Secures $200M Debt Facility With Citi To Finance Residential Solar

Posted by SI Staff on April 29, 2015 No Comments
Categories : New & Noteworthy

Kilowatt Financial, a clean energy consumer finance company, has closed a $200 million debt warehouse facility with Citi to finance residential solar power systems.

The transaction enables Kilowatt to expand its lending program, which offers loan terms of up to 20 years for homeowners to install photovoltaic power systems with no money down. Ultimately, Kilowatt and Citi expect to create asset-backed securities from the loans and to develop a market for institutional investors to provide long-term, low-cost capital to finance residential solar power.

Last year, Kilowatt and Citi announced a $100 million debt warehouse facility to finance energy-efficiency consumer loans to fund a broad range of upgrades, including HVAC equipment, water heaters, windows, roofing and insulation.

‘We are proud to continue our support for Kilowatt Financial on its mission to help consumers run their homes with low-cost renewable energy,’ says Marshal Salant, global head of alternative energy finance at Citi.

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