Goldman to Buy More Loans From Firm Led by Ex-Solar Execs
Goldman to Buy More Loans From Firm Led by Ex-Solar Execs
(Bloomberg) -- Goldman Sachs Group Inc. agreed to buy $200 million in loans from Loanpal, the nation’s largest provider of financing for rooftop solar panels.
The investment bank has now committed $635 million to buy loans originated by the San Francisco-based company, led by two former SolarCity Corp. executives, according to a statement Monday.
Loanpal writes about $200 million in residential solar loans per month, according to the statement. It now also finances other home-efficiency products, including batteries and LED lights.
Loanpal is led by SolarCity alums Hayes Barnard and Tanguy Serra.
To contact the reporter on this story: Brian Eckhouse in New York at beckhouse@bloomberg.net
To contact the editors responsible for this story: Lynn Doan at ldoan6@bloomberg.net, Joe Ryan, Christine Buurma
©2020 Bloomberg L.P.