PosiGen LLC, a US provider of home solar and energy efficiency solutions, announced that Brookfield Asset Management has committed $250 million (EUR 230 million) in investment to support its future asset expansion.
The Louisiana-based business, which provides housing for low- and moderate-income families, recently revealed a new back-leverage financing facility designed by a Brookfield-managed direct lending infrastructure fund. It said that this sizeable boost in capital should enable it to enter more markets around the nation and support the communities designated as priorities by the Inflation Reduction Act (IRA).
A news release states that Connecticut Green Bank, a longtime financial backer of PosiGen, is also reaffirming its commitment to the company through this new facility.
“This new partnership with Brookfield will allow PosiGen to help even more underserved communities by making solar and energy efficiency available to households traditionally unable to access these benefits,” commented Thomas Neyhart, CEO of PosiGen.
The company says that more than 25,000 residential customers have benefited from its offerings to date.