PG&E to Fund SunRun Home Solar Installations

23 June 2010 (Last Updated June 23rd, 2010 18:30)

Pacific Energy Capital II, LLC, a subsidiary of PG&E Corporation and SunRun, has announced a financing agreement to fund SunRun's solar installations at more than 3,500 new homes across the US. Under the $100m tax equity agreement, Pacific Energy will provide financing for the rooft

Pacific Energy Capital II, LLC, a subsidiary of PG&E Corporation and SunRun, has announced a financing agreement to fund SunRun's solar installations at more than 3,500 new homes across the US.

Under the $100m tax equity agreement, Pacific Energy will provide financing for the rooftop energy systems and both parties will receive payments from SunRun customers. SunRun will manage the projects.

Solar systems funded under the agreement are expected to be installed this year and next in at least five states including Arizona, California, Colorado, Massachusetts and New Jersey.