Ygrene Energy Fund Inc., a Santa Rosa, CA-based provider of residential, multifamily and commercial Property Assessed Clean Energy (PACE) financing, closed a $95m investment.
An investment fund affiliated with Lightyear Capital LLC, a private equity firm specializing in financial services investing, provided the funds.
The company intends to use the capital for continued national expansion.
By connecting more consumers to a reliable nationwide contractor network, Ygrene will continue to increase energy savings, cut CO2 emissions and create local jobs through clean energy upgrades.
Led by President and CEO Rocco Fabiano, Ygrene is a national provider of residential, multifamily and commercial property assessed clean energy financing. The privately funded YgreneWorks program provides accessible financing with no upfront payments for energy efficiency, renewables, water conservation, and, in certain areas, hurricane protection, electric vehicle charging stations and seismic upgrades.
Currently approved in over 319 cities and counties across California, Florida, and Missouri, Ygrene offers a PACE program with repayment terms of up to 30 years. Since inception in 2010, the company has approved over $1.85 billion in energy efficiency, renewable energy, climate resiliency, and water conservation improvements, and has completed projects representing an estimated 9,570 local jobs and $1.5 billion in annual economic stimulus for local communities.