Dividend Finance completes sale of USD-200m solar loan portfolio

Residential solar system. Author: David TREBOSC. License: Creative Commons, Attribution-NoDerivs 2.0 Generic.

January 9 (Renewables Now) - US consumer lender Dividend Finance LLC on Wednesday said that in December it closed the sale of about USD 200 million (EUR 180m) of residential solar loans to a big institutional investor.

“The size of our portfolio sale affirms investor interest and comfort with residential solar,” CEO Eric White noted. The deal is also part of the company's financial diversification strategy.

Dividend Finance last month also executed a USD-100-million credit facility for its home improvement loans businesses with Citibank NA. This comes after earlier in 2019, the company raised the funding capacity under its solar loan financing facilities with Citibank NA and Credit Suisse AG to USD 350 million.

The company concluded by saying that its secondary market activity exceeded USD 1 billion.

(USD 1.0 = EUR 0. 901)

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Before joining Renewables Now, Alex was a UK-focused business news reporter. Now she is covering global news from the renewable energy industry with a special interest in M&A.

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