SolarCity closed a new $150 million non-recourse financing facility with Credit Suisse to support deployment of commercial solar energy systems, including battery storage systems for businesses, schools and government organizations across the U.S.

Credit Suisse acted as sole structuring agent for the transaction.

The credit facility is financed against certain revenues from a lessee under a master lease. Borrowings under the credit facility bear interest at a rate per annum equal to cost of funds plus an applicable margin of 3.25%.

“Our asset portfolio enables us to continually bring in new capital from top tier institutional and corporate investors,” said Jeff Munson, director of Structured Finance for SolarCity.