Solar provider PosiGen secured a new three-year, $90 million credit line from asset manager LibreMax Capital, the Connecticut Green Bank and a newly spun-out nonprofit, Inclusive Prosperity Capital.
LibreMax will provide $70 million for the facility, the Green Bank will provide $15 million, and IPC will provide $5 million.
The funding will be used to continue the company’s work leasing solar panels to low-and-moderate-income households in Connecticut and allow it to nearly double the number of homeowners served.
The Connecticut Green Bank first formed a “Solar For All” partnership with the company in 2015.
PosiGen has so far closed 2,041 projects in Connecticut and leased solar systems to 13,000 homeowners throughout Connecticut and three others states.
LibreMax Capital has $5.7 billion in assets under management and specializes in structured products.
