La Caisse de dépôt et placement du Québec provided a $40 million loan to solar energy company Sunrun as part of a previously announced $234.5 million senior secured facility

Founded in 2007, Sunrun designs, develops, installs, sells and maintains residential photovoltaic solar energy systems. With deployed installations of 1,027 MW as of June 30, 2017, the California-based company serves more than 135,000 customers in 22 states and Washington, D.C.

Marc Cormier, EVP, fixed income at CDPQ said, “CDPQ is already active in the commercial solar industry in North America and India, so this transaction represents a good opportunity for us to enter the residential sector, which is one of the fastest growing market segments in the U.S. energy industry today. While generating stable returns in the long term, this financing is also aligned with our strategy to increase our low carbon investments 50% by 2020.”

Montreal-based La Caisse de dépôt et placement du Québec is a long-term institutional investor that manages funds primarily for public and parapublic pension and insurance plants.