Led by BofA Merrill Lynch, SolarCity has secured US$250 million in a new financing facility to support the roll-out of more than 200MW of PV system installations in the US.
According to SolarCity, the financing facility has been the largest secured for distributed generation to date. The company noted that the latest financing facility was the third time it had secured such funding and had raised funds sufficient to finance more than US$4 billion in solar projects.
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SolarCity expects to refinance the facility in the securitization market after the solar assets are fully-deployed.
