SolarCity Creates $90 Million Fund With U.S. Bancorp

SolarCity, a provider of solar power system design, financing, installation, monitoring and related services, has launched a new fund to finance an additional $90 million in commercial and residential solar projects this year with U.S. Bancorp Community Development Corp. (USBCDC), a division of U.S. Bancorp.

SolarCity and USBCDC have now collaborated on three separate funds to finance a total of $190 million in solar projects in the U.S. in 2009 and 2010, SolarCity says. The company will use the new fund to finance its solar lease and power purchase agreement offerings as it continues to expand to new states.

SOURCE: SolarCity

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