By Frederic Brown
Goldman Sachs Group has agreed to purchase $300 million of loans for residential PV projects from solar financing provider Solar Mosaic.
Solar Mosaic said in a press release that it now possesses a far larger stock of capital of around $800 million to invest into future home solar installations, which is on top of $650 million in borrowing capacity they have from other lenders.
The company added that with proven access to the term securitization market, backing their investments, it is now well positioned for strong growth in 2018.
Mosaic Solar, which specializes in providing loans for rooftop PV projects to homeowners across the United States, said it has currently a network of more than 125 rooftop developers that have financed more than $1 billion in solar homes
“This purchase commitment further strengthens Mosaic’s position as the most trusted home energy financing platform in the US with diversified sources of capital,” said Billy Parish, CEO of Mosaic. “We are excited to work with a leading bank that shares our passion for providing clean energy financing solutions to homeowners.