Brookfield provides additional $200 million to support PosiGen's growth, drive
projects across expanding markets
NEW
ORLEANS, Dec. 19, 2024 /PRNewswire/ -- PosiGen,
PBC, the nation's leading provider of renewable energy and energy
efficiency solutions for underserved communities and a Certified B
Corporation, today announced that Brookfield Asset Management
(Brookfield), through its high-yield infrastructure debt platform,
has expanded its funding commitment with an additional $200 million investment.
Brookfield has committed $600
million to support PosiGen's deployment of rooftop solar
since 2023, playing a key role in PosiGen's strategic growth as it
has expanded into new markets. This round of funding will support
new projects, including origination driven by both PosiGen's direct
sales engine and those coming through its growing channel partner
platform.
"We're proud to deepen our partnership with Brookfield as we
continue to prioritize delivering savings to homeowners in
underserved communities," said Peter
Shaper, CEO of PosiGen. "Together, we are proving that our
unique business model can be both profitable and a driver of
positive social impact."
By eliminating traditional barriers to going solar like credit
score requirements and income thresholds, PosiGen ensures that the
financial benefit and reduced energy burden delivered by clean
energy solutions are accessible to homeowners who have historically
been excluded from the market.
"Our mission is to bring meaningful savings and solar energy to
all," said Ben Healey, President,
Capital Markets and Strategy of PosiGen. "Brookfield's ongoing
support enables us to execute that mission in a way that will make
a greater impact in the communities we serve."
"We are excited to further this partnership as PosiGen continues
to demonstrate an exceptional ability to deliver for their
customers," said Hadley Peer
Marshall, co-head of Brookfield's infrastructure debt and
structured solutions businesses. "This additional investment
reflects our confidence in the company's proven business model and
their capacity to scale successfully."
About PosiGen
PosiGen, with a mission to make solar energy affordable for
homeowners of all income levels, is the leading solar and energy
efficiency provider focused on providing savings to underserved
communities. Since its founding in 2011, PosiGen has offered
innovative "no credit check" financing that makes its services
accessible for all families regardless of socioeconomic status,
helping them reduce their utility bills and achieve greater
financial autonomy. PosiGen has more than 750 employees and has
served nearly 30,000 customers in more than a dozen states.
Through the expanding PosiGen Partner Program, a network of
value-aligned solar service providers, the company supports
hundreds more solar jobs across the country. Learn more about
PosiGen's Solar For All mission at www.posigen.com.
About Brookfield Asset Management
Brookfield Asset Management Ltd. (NYSE: BAM, TSX: BAM) is a
leading global alternative asset manager with over $1 trillion of assets under management across
renewable power and transition, infrastructure, private equity,
real estate, and credit. We invest client capital for the long-term
with a focus on real assets and essential service businesses that
form the backbone of the global economy.
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SOURCE PosiGen
