NewEnergyNews More: $440 MIL FROM U.S. BANCORP TO NEW ENERGY

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    • Monday, February 6, 2012

    $440 MIL FROM U.S. BANCORP TO NEW ENERGY

    US Bancorp to Invest $440 Million in Renewable Energy This Year
    February 3, 2012 (SustainableBusiness)

    "US Bancorp, the fifth-largest commercial bank in the US says it will invest 30% more in renewable energy projects this year, about $440 million.

    "The bank has financed $680 million in solar and wind projects since 2008, and roughly half of that was in 2011…As the renewable energy projects become more profitable, investors are considering them as candidates for asset-backed securities…"

    click to enlarge

    "Last May, the bank made its largest financing commitment to SunRun to support the purchase of $200 million in residential solar systems. SunRun owns the system and homeowners pay a monthly electricity fee for the solar energy…

    "In 2010, Residential solar provider Sungevity formed a partnership with US Bancorp to create a $24 million tax equity fund to finance 10-year solar leases for Sungevity customers in California."

    posted by Herman K. Trabish @ 6:20 AM

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