Kilowatt Financial expands debt warehouse facility by $125 million

By Lisa Kerner

Charlotte, N.C., June 2 – Kilowatt Financial, LLC expanded a debt warehouse facility with Citi to $225 million from $100 million to finance energy efficiency improvements for homeowners.

The company also has a $200 million solar loan warehouse facility, announced in April, with Citi.

Later in the year, Kilowatt and Citi expect to create asset-backed securities from the energy efficiency loans and to develop a market through which institutional investors will provide capital to help make residential energy efficiency improvements, according to a news release.

In February, Citi announced a goal to lend, invest and facilitate a total of $100 billion within the next 10 years to finance activities that reduce the impacts of climate change and create environmental solutions that benefit people and communities, said Citi global head of alternative energy finance Marshal Salant.

Wayzata, Minn.-based Kilowatt Financial provides consumers with financing for solar electricity and energy-efficient home improvements.

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