EnFin by Qcells (EnFin), Qcells’ residential photo voltaic financing platform, has accomplished its first asset-backed securities (ABS) transaction totaling $252.8 million.
The transaction includes bonds backed by shopper loans used to finance residential photo voltaic installations. RBC Capital Markets acted as the only real structuring advisor and bookrunner,and Santander served as co-manager within the transaction.
“This deal indicators confidence within the Qcells model inside the photo voltaic financing sector and within the broader capital markets,” says Alex Kaplan, EnFin’s president and CEO.
“EnFin is the one financing platform out there backed by a serious producer, and we profit from Qcells’ trusted fame for high-quality gear and its important funding to construct a sustainable photo voltaic provide chain within the U.S. With our seamless point-of-sale know-how, intensive installer relationships and scalable providers, EnFin is able to assist owners throughout the nation who wish to go photo voltaic with dependable and attainable financing.”
Along with the current ABS transaction, EnFin has closed two revolving warehouse transactions totaling $500 million of dedicated capability. The primary warehouse was closed with RBC in April 2023 and the second with Santander in January, every for $250 million.
