San Francisco, CA. Sungevity, a Berkeley, CA–based provider of residential solar home solutions, and Rabobank Group, an international financial services provider, have announced the planned use of more than $50M in funding to install solar panels on residential rooftops and sell the electricity to homeowners via leases.
Rabobank has been funding solar electric arrays at farms, warehouses and other businesses, as well as its own branches; this news marks the bank’s foray into residential solar in North America.
Nixon Peabody served as Sungevity’s legal counsel in the deal. The team was led by tax credit finance & syndication partners Gary Band and Herb Stevens.