Sungage Financial and Carlyle Forge Strategic Partnership to Advance Residential Solar Financing

Credit: Kindel Media

, a US-based residential financing company, has joined forces with global investment firm in a strategic partnership aimed at enhancing Sungage Financial's origination capacity and scalability. The collaboration, announced on Thursday, encompasses a USD 450 million (EUR 414 million) forward flow agreement, through which Carlyle will acquire newly issued residential solar loans from Sungage. Additionally, Carlyle has made an undisclosed strategic investment in the Boston-based company.

, CEO of Sungage, emphasized the significance of the partnership, noting that it provides Sungage with “line of sight to tremendous capacity,” thereby facilitating the company's mission to make solar energy more accessible and affordable for homeowners.

Sungage Financial specializes in providing financing solutions for solar, battery storage, and roof work to homeowners through partnerships with companies engaged in the sale and installation of solar energy systems.

Akhil Bansal, head of Credit Strategic Solutions at Carlyle, underscored the partnership as a demonstration of Carlyle's asset-backed capabilities and its commitment to delivering tailored solutions to its clients.

Carlyle's Credit Strategic Solutions team spearheaded the deal, leveraging its extensive experience in deploying over USD 3.5 billion since 2021. As of the end of March, the team manages approximately USD 7 billion in assets.

Add a comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Keep Up to Date with the Most Important News

By pressing the Subscribe button, you confirm that you have read and are agreeing to our Privacy Policy and Terms of Use

Support Renewable Energy News!

At EnergyMagz, we believe that reliable, up-to-date news on renewable energy is vital for driving the world toward a sustainable future. By contributing, you’re not only supporting quality journalism, but also helping to shape the world’s transition to greener solutions.
DONATE  NOW
Every contribution, no matter the size, makes a difference.
close-link