Solar Power Provider Mosaic Makes $300M Sale to Goldman Sachs
Here’s a number and a name link that caught my eye: $300 million and Goldman Sachs. That dollar amount reflects the loans Goldman is buying from Mosaic, a solar loan provider. The deal was done to clear Mosaic's balance sheet and free up more capital for more loans, reports Greentech Media. At the same time, Golman's buy-in indicates that the investment bank’s high compliance and information requirements have been met by the solar provider. All seems to be going well for Mosaic; market share in 2016 nearly tripled over 2015. The company’s growing loan activity echoes a market shift away from third party-owned leases and power purchase agreements to customer-owned deals. With their much lower rates, bank-backed loans should result in lower prices for loan customers.
John Howell, Editorial Director
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