SAN FRANCISCO, Aug. 13, 2020 /PRNewswire/ — Loanpal, LLC (“Loanpal”) the nation’s chief in residential photo voltaic financing, introduced immediately that Blackstone (“Blackstone”) (NYSE: BX), via funds managed or suggested by GSO Capital Companions LP (“GSO”) has dedicated to put money into as much as $300 million of residential photo voltaic loans originated and serviced on the Loanpal platform. Loanpal is the main financier of residential photo voltaic vitality within the US. By Loanpal’s platform, GSO will present financing for photo voltaic programs for 10,000 owners, dramatically reducing the carbon footprints of their houses.
“We’re happy to welcome Blackstone on our platform,” mentioned Tanguy Serra, President and Chief Funding Officer at Loanpal. “To resolve Local weather Change we have to deploy 10 trillion {dollars} within the US to switch fossil gas sources of vitality. Versus fossil gas primarily based vitality, renewable energy has no feedstock and no ongoing prices so all that issues are the upfront capital expense and fixing for scale deployment. As one of many largest asset managers on this planet, Blackstone is a perfect associate for Loanpal. Local weather Change will get solved by deploying billions of {dollars} monthly at steady returns over the subsequent decade.”
“We’re excited to associate with Loanpal, a number one originator of client photo voltaic property with an distinctive administration crew. Our funding will allow Loanpal to proceed to broaden all through the USA, and we consider represents a lovely alternative for our buyers to earn compelling risk-adjusted returns and put money into rising demand for renewable vitality,” mentioned Rob Camacho, Senior Managing Director and Co-Head of GSO’s Structured Merchandise group, and Rob Horn, Senior Managing Director and Co-Head of GSO’s Vitality group.
Loanpal, a fintech firm leveraging its deep experience in expertise, information and lending to make clear vitality merchandise extra accessible for owners, provides monetary companions and photo voltaic installers the boldness to finance residential photo voltaic programs and assist fight local weather change with sustainable merchandise. Loanpal companions with credit score unions, insurance coverage corporations, banks and asset managers to supply $0 down cost choices. Loanpal has transacted over 130,000 residential photo voltaic programs on its expertise platform permitting the manufacturing of over 1 Tera Watt Hour of carbon free vitality per 12 months.
About Loanpal
Loanpal is the nation’s main expertise platform for residential photo voltaic loans. The corporate is dedicated to delivering a tech-enabled lending expertise that’s easy, quick and frictionless, leading to instantaneous approvals on the level of sale. Loanpal’s platform connects monetary establishments to high-quality debtors for vitality options that make a constructive affect on the planet. Loanpal has helped 130,000 prospects add photo voltaic to their houses and has transacted $4.Zero billion on its platform. Loanpal is a proud associate of GivePower, a 5013c company, whose mission is to construct and deploy solar-powered clear water and vitality programs to communities in want all over the world. To be taught extra about Loanpal, go to, observe and join with us at www.loanpal.com, @loanpal, and Linkedin.
About GSO
GSO Capital Companions LP is the worldwide credit score funding platform of Blackstone. Our credit score phase, which consists principally of GSO, has roughly $138 billion of property beneath administration. GSO is without doubt one of the largest different managers on this planet centered on the leveraged-finance, or non-investment grade associated, market. GSO seeks to generate engaging risk-adjusted returns in its enterprise by investing in a broad array of methods together with mezzanine debt, distressed investing, leveraged loans and different special-situation methods. Its funds are main suppliers of credit score for small and middle-market corporations they usually additionally advance rescue financing to assist distressed corporations.
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SOURCE Loanpal
Associated Hyperlinks
http://www.loanpal.com
