SolarCity Corp has created a $249m tax equity fund to finance new solar projects.
An unnamed Fortune 100 company is SolarCity’s financing partner in the fund –the fourth fund the two companies have created together.
SolarCity said once the fund is fully allocated, it could double in size to $498m.
The fund will cover the capital cost of solar equipment and installation, the company said.
SolarCity executive vice president, capital markets Radford Small said: “SolarCity has now created 50 project funds with 21 different financing partners.”
Image: sxc
