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.

©2020 Bloomberg L.P.

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