By: Isabelle Elizondo On: September 18, 2023 In: Comments: 0

NY Green Bank (“NYGB”) has entered into five transactions to accelerate the deployment of more than 14,500 solar projects at homes across New York State (“NYS”) by Sunrun, Inc. (“Sunrun”). Sunrun is a national solar provider that markets and develops residential solar energy systems. The five transactions complement each other – three provide financing to fund the purchase of materials and installation of the solar projects and two provide post-construction financing. One of the post-construction financings was arranged by Investec Bank PLC (“Investec”), an international specialty bank and asset manager, and the second post-construction financing was arranged by SunTrust Robinson Humphrey Inc. (“SunTrust”) and ING Capital LLC (“ING”). The equipment financing facility was jointly arranged by KeyBank N.A. (“Key”) and ING, respectively.

In May 2023, NYGB increased its existing commitment to Sunrun by $19MM
to enable Sunrun to develop further into marginal markets and
territories in New York State.

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