Renew Financial, an Oakland, Calif.-based clean energy and home improvement finance company, closed a $300m revolving credit facility.
Morgan Stanley Bank, N.A. and Barclays Bank PLC provided the new facility.
The proceeds will allow Renew Financial to provide financing through Property Assessed Clean Energy (PACE*) programs in Florida and California.
Renew Financial Group is a home improvement financing company which administers and provides multiple financing products across the country, with programs available in several states, including the administration of Property Assessed Clean Energy (PACE) programs operating in California and Florida.
*PACE is a financing tool enabled by state and local governments that provides homeowners and business owners with access to private capital to finance the entire cost of renewable energy, energy efficiency, water conservation, seismic, and wind mitigation upgrades, and then pay for those upgrades on their property tax bill.