SolarCity and Rabobank to fund 30 commercial solar projects in California

By Editor


SolarCity and Rabobank to fund 30 commercial solar projects in California

By Greentech Lead America: Rabobank, a global financial services,
and SolarCity, a clean energy service provider, announced $42.5 million in
structured financing to fund over 30 commercial solar projects in California.

“We’re thrilled to be working with SolarCity on this
transaction, as financing development of renewable energy continues to be a key
priority for us,” said Edward Levin, executive director at Rabobank.

This new fund is the latest iteration of a
Rabobank-SolarCity collaboration that has produced a solar-powered electric
vehicle charging corridor to connect Los Angeles and San Francisco, and a
series of solar installations at local bank branches in California.

Rabobank has partnered with SolarCity since 2010 to bring
solar energy to a number of its branches in California. Now with this funding
SolarCity can allow a wide range of organizations to install solar panels for
free, and pay less for solar electricity than they pay for utility power.

“With the help of strong partners like Rabobank,
we’re allowing businesses to generate their own clean power and improve their
bottom lines at the same time,” said Lyndon Rive, chief executive officer
of SolarCity.  

Since the expansion of its renewable energy finance
platform to the Americas in 2009, Rabobank has become a leader in the U.S.
renewable energy project finance field, focusing primarily on the solar, wind
and bio-mass sectors.

SolarCity, and
Shea Homes, a home builder in the U.S., recently announced their plans to build
No Electric Bill home.

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