New York-based Sunlight Financial LLC, a provider of financing for the residential solar market, has secured $300 million in capital, including $80 million of growth capital from lead investor Tiger Infrastructure Partners.
Sunlight Financial says it will use this round of capital for growing its business platform and increasing access to lower-cost financing alternatives for residential rooftop solar assets.
Marathon Capital served as exclusive financial advisor and placement agent to Sunlight Financial and its lead investor, Hudson Clean Energy Partners.
‘We are pleased to welcome Tiger as our partner,’ says Neil Z. Auerbach, CEO of Hudson Clean Energy Partners. ‘Tiger proved to be thoughtful and collaborative and brings the skills and expertise to add value to Sunlight.’
Sunlight Financial, a provider of residential solar financing, has secured access to $300 million of capital, including $80 million from lead investor and private equity player Tiger Infrastructure Partners.
According to Sunlight, the capital influx is intended to grow the company's business platform and increase its access to lower-cost financing alternatives for residential rooftop solar assets.
The remaining $220 million of capital will come from different financial institutions with substantial track records investing in the solar sector and will be used for investment in loans and other products directed towards residential solar finance. These include the following:
- A new senior secured credit facility worth up to $120 million, led by CIT Energy Finance and designed for longer-term loan products; and
- The development of new loan origination programs with more than $100 million of available capital from existing and new financial institutions designed for shorter-term loan products.