Sunrun Sets Industry Record with Securitization of Solar Leases and PPAs

Sunrun, a leading residential solar, storage, and energy services provider, has successfully completed the securitization of its leases and power purchase agreements (PPAs) – known as the solar-as-a-service offering. This landmark transaction has enabled Sunrun to raise additional subordinated non-recourse financing, solidifying the company’s position as an industry trailblazer.

Sunrun’s success in executing this strategy highlights the effectiveness of its non-recourse, asset-level financing approach, which empowers the company’s growth trajectory. By securing attractive capital with robust advance rates, Sunrun ensures unit-level cash generation over time, all the while maintaining a prudent leverage profile at the parent level.

Following the completion of the securitization transaction, Sunrun continued its financial momentum by raising an extra $253 million in subordinated subsidiary-level non-recourse financing. This additional funding further bolstered the cumulative advance rate obtained by Sunrun, reinforcing the company’s financial position and ability to drive continued progress.

Sunrun’s ability to securitize its solar leases and PPAs, coupled with the subsequent successful fundraising efforts, underlines the company’s commitment to innovation and sustainability. By unlocking capital in this manner, Sunrun continues to drive increased accessibility to clean energy solutions for homeowners across the nation.

This unprecedented securitization of solar leases and PPAs marks yet another significant milestone for the renewable energy sector. Sunrun’s achievement exemplifies its dedication to pioneering financial strategies while actively contributing to the broader goal of a sustainable future.

Disclaimer: The information provided in this research report is for informational purposes only and should not be interpreted as financial or investment advice. The solar energy market is highly volatile, and readers should conduct thorough research before making any investment decisions.

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