OneRoof Energy Inc., a San Diego-based solar finance provider, has secured an agreement for the acquisition of up to $100 million in residential solar projects with MS Solar Holdings Inc., an indirect, wholly owned subsidiary of Morgan Stanley, and Main Street Power Company Inc., a North American solar developer and owner/operator, through the expansion of its existing MySolar residential lease financing platform.
Debt financing for the newest MySolar fund (MySolar II LLC) will be provided by the National Bank of Arizona. According to the company, the MySolar finance platform will enable OneRoof Energy to offer solar lease financing to greater numbers of American homeowners in Arizona, California, Colorado and Hawaii through its network of qualified solar dealers and installers.
With the new investment, OneRoof Energy has raised and secured commitments for more than $200 million in corporate capital, project financing and tax equity funding since it closed its first tax equity fund in September 2011.
