Goldman Sachs to Buy $300 Million of Mosaic Rooftop Solar Loans

(Bloomberg) -- A unit of Goldman Sachs Group Inc. agreed to buy $300 million of rooftop solar loans that Solar Mosaic Inc. originated to homeowners.

The Goldman Sachs purchase increases the amount of funds that Mosaic can invest in future home solar installations to $800 million, the Oakland, California-based solar financing company said in a statement Monday. That’s on top of $650 million in borrowing capacity from other lenders,

Mosaic is the largest U.S. home solar lender with a network of more than 125 rooftop developers that have financed more than $1 billion in solar homes, according to the statement.

To contact the reporter on this story: Christopher Martin in New York at cmartin11@bloomberg.net.

To contact the editors responsible for this story: Reed Landberg at landberg@bloomberg.net, Will Wade, Jeffrey Taylor