Ygrene Energy, Santa Rosa retrofit lender, secures $150 million in financing

Ygrene Energy announced it has obtained $150 million in private financing that can be used to fund energy and water savings projects for commercial and residential properties in multiple states.|
ROBERT DIGITALE
THE PRESS DEMOCRAT

Santa Rosa’s Ygrene Energy announced Thursday it has obtained $150 million in private financing that for the first time can be used to fund energy and water savings projects for commercial and residential properties in multiple states.

The company estimated that the financing from an unnamed insurance company will help fund 6,210 energy and water conservation projects. The improvement projects are generally referred to as PACE, or Property Assessed Clean Energy.

“We are excited to pioneer the first-ever PACE securitization to include both commercial and residential PACE assets from multiple states,” said Ygrene President and CEO Stacey Lawson. She noted the financing had received a rating of AA from Kroll Bond Rating Agency.

Ygrene is approved to operate in over 150 cities and counties across California, Florida and Georgia. For no money down, businesses and homeowners can install solar, insulation and other energy and water conservation projects and then pay for the improvements via property tax bills. Ygrene offers repayment terms for up to 30 years.

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