By: greenbank On: March 01, 2017 In: Comments: 0

NY Green Bank committed US$20.0 million to participate in a US$37.5 million revolving back leverage aggregation facility for Vivint Solar Inc., a national residential solar installer. This represents an expansion of NYGB’s support for Vivint Solar’s development efforts in New York State after NYGB provided US$37.5 million in a term loan to Vivint Solar in August 2016. As a participant with other banks in the Aggregation Facility, NYGB’s capital will help to provide incremental liquidity for Vivint Solar to develop additional projects in NYS. Up to 25.0 megawatts of new projects are expected to be financed as a result of the Aggregation Facility and represent approximately 2,100 residential solar systems in the State. When added to the systems supported by the Term Loan, the total impact to NYS is expected to be at least 52.0 MW and 6,700 systems.

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