As of June, Tesla’s solar unit Tesla Energy had installed 360,000 solar systems, with more than 3.1 gigawatts of installed capacity. Photo: ReutersNew York: Tesla Inc., the busiest issuer of solar asset-backed securities, is seeking to raise $131 million by bundling consumer power-purchase agreements and leases. Palo Alto, California-based Tesla already accounts for at least $485 million of the more than $1.3 billion of solar ABS raised this year. Securitization lets residential-solar companies realize the value of long-term consumer contracts by refinancing them in the capital markets. As of June, Tesla’s solar unit Tesla Energy had installed 360,000 solar systems, with more than 3.1 gigawatts of installed capacity.

Source: Mint December 05, 2017 03:33 UTC