SunPower and Hannon Armstrong have entered into a joint venture to acquire, own, manage, operate, finance, and maintain a portfolio of residential solar pv systems currently or expected to be installed, working with potential tax equity partners.
The PV maker plans to pay off the high-interest mezzanine loan with revenue from its residential lease portfolio.
The investment group will use the bonds to refinance the land leases it holds under 57 solar projects totaling 1.2 GW in capacity.
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