In a new partnership SolarCity and Citi have created two new funds totaling $347 million for new solar panel projects.
The first fund at $284 million will finance residential solar projects across the country, while a $63 million fund will finance similar projects for small- and medium-sized businesses in California.
Various measures of financing — either acquiring it or creating it — seems to be the number one goal for SolarCity these days, if we are to rely solely on headline-making news to judge; the company is regularly in the news for both. Only a few weeks ago SolarCity revealed that it had raised another $305 million in financing in its second cash equity transaction. This followed news that the company was expanding its services into Austin, Texas, for the first time.