On May 15, 2023, PosiGen, a leading provider of renewable energy and efficiency solutions for low- and moderate-income families, announced a new back-leverage debt facility structured by a direct lending infrastructure fund managed by Brookfield Asset Management. This $250 million funding commitment represents a significant increase in the capital committed to support PosiGen's future asset growth, fueling the company's expansion into additional markets nationwide, with a direct focus on serving households with high energy burdens who stand to benefit the most from transitioning to clean energy. Wilson Sonsini Goodrich & Rosati represented PosiGen in the transaction.

PosiGen will use this funding to work in new states and communities prioritized under 2022's Inflation Reduction Act, including in particular Energy Communities and Low-Income Communities, as part of PosiGen's Solar for All mission. Additionally, the nation's first statewide green bank is also renewing its commitment to PosiGen through this new facility. The Connecticut Green Bank is a longtime financial supporter of PosiGen's growth, and this ongoing partnership continues to demonstrate the critical role that state energy finance institutions play in accelerating the deployment of clean energy and making it accessible to everyone.

The Wilson Sonsini team that advised PosiGen on the transaction includes Scott Zimmermann, Jill Fulwiler, Claire Christensen, Nicole Gambino, and Jessica Remlinger.

For more information, please see the press release.