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Wunder Capital sells loans to free $200 million for solar financing

ImpactAlpha, July 2 – Wunder Capital is a solar financing company that aims to ramp up U.S. solar capacity by speeding up project financing. A new deal with alternative asset investor Fundamental Advisors will drive an additional $200 million into the sector.

Fundamental Advisors is partnering with Wunder to buy up to $200 million in new solar loans originated by the company. Wunder’s CEO Bryan Birsic told ImpactAlpha that the company will identify projects in commercial, industrial, and community solar, as well as what are known in the sector as “MUSH” projects: municipal, university, schools and hospitals. It will bundle and sell the loans that fit Fundamental’s portfolio interests on a monthly basis.

As part of the financing agreement, Wunder plans to ramp up community solar financing, which allows local homeowners and businesses to buy into larger utility-operated systems, rather than installing solar panels on-site. Birsic says community solar is currently “having a moment.”

“There are a number of reasons why you might not be in a good position to put solar on your roof,” he explained. “Community solar allows people and businesses to benefit from energy cost savings while supporting low-carbon energy.”

Wunder has helped finance more than 100-megawatts of new commercial solar capacity in 15 states since launching in 2013 (disclosure: Wunder has been a sponsor of ImpactAlpha’s Returns on Investment podcasts). Most of the projects Wunder has backed to date have averaged around 300 to 400-kilowatts and required about $1 million in financing.

Last year, Wunder struck a similar debt financing deal with Cyrus Capital Partners for $100 million.

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