July 14 (Renewables Now) – US fintech company Wunder Capital has formed a new partnership to provide financing for more than USD 100 million (EUR 87.8m) in commercial solar loans.
The alliance is with funds managed by Ares Management Corporationâ€™s (NYSE:ARES) Infrastructure and Power strategy (AIP), Cyrus Capital Partners LP and Keyframe Capital LP. In teaming up with them, Wunderâ€™s proprietary technology platform will offer turnkey pre-NTP (notice to proceed) development capital solutions to select solar installers and developers, the announcement says.
â€śThis joint transaction, hopefully the first of many, will provide much needed financing for commercial solar development activities through this difficult market period, and this partnership will play a pivotal role in driving the growth of the commercial solar market for years to come,â€ť commented Wunder CEO Dave Riess.
At present, Wunder does business in 34 states and has over 300 active solar installation and development partners across the country.
(USD 1.0 = EUR 0.878)