Carlyle, a global investment firm, has engaged in a $450 million forward flow agreement with Sungage Financial, a prominent solar financing provider. This includes purchasing newly issued residential solar loans and making a strategic investment in Sungage. Founded in 2011, Sungage pioneered New York’s first asset-backed solar loan for residential projects. This collaboration aims to enhance Sungage’s origination capacity and foster future growth. Sungage partners with solar and battery companies to facilitate energy-efficient home improvements through reliable online financing solutions. The transaction, led by Carlyle’s Credit Strategic Solutions team, underscores Carlyle’s commitment to private fixed income and asset-backed investments. With over $3.5 billion deployed since 2021, Carlyle’s Credit Strategic Solutions manages approximately $7 billion in assets as of March 31, 2024.
Carlyle and Sungage sign solar financing deal
Sungage Financial and Carlyle have collaborated on a $450M forward flow agreement for residential solar loans. (Image Credit: Pexels)
Nova Energy Limited received resource consent for Te Rahui solar farm, scheduled for a financial decision by early 2025. (Image Source: Meridian Energy)
AfDB funded two 15 MW solar plants in Chad to generate 61 GWh annually and cut emissions by 49,000 tons per year. (Image Credit/Source: LCEC/Pixabay)
Algeria and GE Vernova discussed 15 GW renewable energy projects, including solar, as Sonelgaz led talks in Atlanta. (Image Source:Zawya)
LRE powered up Morrow Lake Solar, supplying 200 MW to Microsoft with innovative solar tech and eco-friendly land use. (Image Credit/Source: StockSnap/Pixabay)