PosiGen, one of the nation’s leading providers of renewable energy and energy efficiency solutions for underserved communities and a certified Public Benefits Corporation (PBC), announced that a direct lending infrastructure fund managed by Brookfield Asset Management (Brookfield) has expanded upon its funding commitment with an additional $150 million investment.
Brookfield and PosiGen started working together in 2023. This investment, now totaling $400 million, strengthens the ability to bring savings and clean energy to more homeowners.
Since its founding in 2011, PosiGen has installed nearly 30,000 solar systems, produced over 645,000,000 kWh of energy from solar panels, and saved homeowners $65.9 million+ through solar and energy efficiency.
With this additional investment, PosiGen will benefit from working capital that allows the organization to thoughtfully scale the business and bring savings and clean energy to more homeowners in underserved communities.
Connecticut Green Bank (one of the nation’s first statewide green banks) renewed its commitment to PosiGen.
KEY QUOTES:
“Brookfield’s support for meaningfully upsizing its financial commitment so quickly is a testament to the strength of our business model and shows that doing good for communities is good business. With this growing partnership secured, we can continue to scale our business and give more customers the opportunity to achieve energy savings and benefit from our unique savings guarantee without regard to FICO score or income thresholds.”
– Peter Shaper, CEO of PosiGen
“We are delighted to extend our partnership with PosiGen. With the increase of our commitment we look to advance PosiGen’s growth in delivering solar and meaningful savings to more households in the U.S. This partnership is a great example of our strategy to invest in high-quality infrastructure businesses that are leading the way in energy transition.”
– Hadley Peer Marshall, Managing Partner, co-head of Brookfield’s infrastructure debt and structured solutions businesses
“In Connecticut, we have seen thousands of families benefiting from solar and energy efficiency upgrades to their homes through PosiGen’s dedication to Solar for All. The continued investment from Brookfield is an endorsement of their commitment to this proven concept and will help PosiGen create more jobs and more savings in our underserved communities.”
– Bryan Garcia, President and CEO of the Connecticut Green Bank
“Solar for all is more than a statement, it’s the guiding principle on which this organization was founded. We are grateful for partners like Brookfield who help us advance our mission to make solar accessible for every person, particularly those in underserved communities.”
– Thomas Neyhart, founder and Executive Chairman of PosiGen’s board of directors
