Ygrene closes $340.5 million of property assessed clean energy notes

By Susanna Moon

Chicago, April 27 – Ygrene said it closed $340.5 million of property assessed clean energy (PACE) notes (/AA/).

The deal represents the seventh securitization with more than $1 billion to date sponsored by Ygrene since 2015, according to a company announcement.

This transaction includes about $14 million of commercial originations and the nearly even split of underlying assets between California, with 55%, and Florida, with 45%, the release noted.

“With the continued confidence of investors and credit rating agencies, Ygrene provides a unique financing option for property owners to conserve energy and water, improve resiliency against natural disasters and source clean energy systems,” Tim Condon, chief financial officer at Ygrene, said in the press release.

“This record securitization enables the expansion of Ygrene into more cities and counties nationwide.”

Ygrene is a Petaluma, Calif.-based provider of residential and commercial energy efficiency and resiliency project financing.

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