Vivint Solar has received commitments for an additional US$100 million of tax equity financing, which will allow it to install more than 55MW of residential solar energy systems.
This tax equity commitment comes from RBC Capital Markets and co-investors arranged by RBC's Tax Credit Equity Group. The investment commitment is expected to allow Vivint Solar to design and build low-cost, clean energy systems for more than 8,000 new residential customers.
David Bywater, CEO of Vivint Solar, said: “We believe this tax equity raise, along with the recent US$360 million multi-party forward flow funding arrangement, reflects the capital markets' and our investors' continued confidence in Vivint Solar's sustainable growth model. We are committed to not only delivering results to our investors but also helping more homeowners access our solar energy systems.”
Julian Torres, a director at RBC, added: “Vivint Solar has a leading residential solar platform that we are pleased to support with our tax equity capital alongside that of our co-investors. This transaction is a credit to the teamwork across the RBC platform and highlights our unique capabilities of direct investing in and syndication of renewable energy tax credits.”