U.S. Bancorp, SolarCity Launch Additional Fund

SolarCity says it has created a new fund to finance an additional $158 million in commercial and residential solar projects this year in partnership with a subsidiary of U.S. Bancorp.

The $158 million fund increases SolarCity's total solar project financing funds to more than $1 billion. SolarCity will use the new fund to finance its SolarLease and power purchase agreement (SolarPPA) offerings. The company plans to continue expanding to additional locations in the U.S.

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