NEW FINANCIAL PARTNERSHIP FUELS POSIGEN'S MISSION TO PROVIDE SOLAR AND ENERGY EFFICIENCY TO UNDERSERVED COMMUNITIES
Summary
NEW ORLEANS, May 15, 2023 /PRNewswire/ -- PosiGen, the nations leading provider of renewable energy and efficiency solutions for low- and moderate-income families, is pleased to announce a new back-leverage debt facility structured by a direct lending infrastructure fund managed by Brookfield Asset Management ("Brookfield"). This $250 million funding commitment represents a significant increase in the capital committed to support PosiGens future asset growth, fueling the companys expansion into additional markets nationwide, with a direct focus on serving households with high energy burdens who stand to benefit the most from transitioning to clean energy. To date, more than 25,000 PosiGen customers enjoy lower utility bills combined with the benefits of clean energy. "Were grateful to the team at Brookfield for recognizing not just the sizable market opportunity associated with expanding the landscape of customers we can serve, but also in a deeper sense for supporting our mission to create energy independence for all. "Its clear that for us to meet our climate goals as a nation and create an inclusive economy, we need to focus our efforts on clean energy jobs and equitable access to these technologies that provide savings to those who need it most.