SOLARCITY-RABOBANK $42.5MIL OFFC BUILDING SUN DEAL

SolarCity and Rabobank Announce $42.5 Million Fund for Commercial Solar Projects; Latest collaboration will fund construction of over 30 corporate solar installations
March 15, 2012 (SolarCity)

"Rabobank and SolarCity® today announced $42.5 million in structured financing to fund over 30 commercial solar projects in California. This new fund is the latest iteration of a Rabobank-SolarCity collaboration that has produced a solar-powered electric vehicle charging corridor to connect Los Angeles and San Francisco, and a series of solar installations at local bank branches in California…"

[Lyndon Rive, CEO, SolarCity:] “We can allow many businesses to install solar panels for free, and pay less for solar electricity than they pay for utility power…With the help of strong partners like Rabobank, we’re allowing businesses to generate their own clean power and improve their bottom lines at the same time.”

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"Since the expansion of its renewable energy finance platform to the Americas in 2009, Rabobank has become a leader in the U.S. renewable energy project finance field, focusing primarily on the solar, wind and bio-mass sectors…

"SolarCity can allow a wide range of organizations to install solar panels for free, and pay less for solar electricity than they pay for utility power. The company now has more than 1,000 solar projects completed or underway for U.S. businesses and non-profit organizations."