Westlake Capital Finance (WCF), the commercial lending entity and subsidiary of Westlake Technology Holdings, funded a $40 million revolving credit facility with a solar company, highlighting WCF’s expansion into the solar loan asset class.
“This transaction aligns with our objectives here at Westlake Capital Finance,” Ryan Drew, director of asset-based lending at WCF, said. “WCF hopes to provide financial flexibility to businesses looking to innovate and serve a greater purpose. The solar company’s business model fits the profile of companies we look to finance as they continue to raise environmental awareness through their business.”
WCF’s success in the automotive space has enabled the company to explore expansion into new asset classes such as those in the renewable energy category. In the coming years, WCF intends to build a larger portfolio with similar transactions across a multitude of new spaces.
“This transaction highlights our ability to be capital partners in burgeoning sectors such as renewable energy,” Kelechi Ogbunamiri, chief investment officer of the Hankey Group, said. “We worked closely with the solar company’s team to structure a bespoke financing facility to fit their specific business needs and fuel the future growth of the business.”
