PosiGen
Forbright Bank helps deliver clean energy to underserved communities.
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Overview:
Forbright Bank and PosiGen, a leading residential solar leasing and energy efficiency provider, formed a lending partnership to bring clean energy to historically disadvantaged communities, among others. These energy efficiency upgrades help homeowners create cleaner electricity and save on their energy costs.
Approach:
Forbright was joined by two other banks in a $140 million transaction to grow PosiGen’s available capital base, allowing the company to reach more customers in their existing markets and expand into other states.
Results:
- The successful partnership with PosiGen allowed under resourced families and communities to have equal access to solar savings and energy efficient upgrades across 10 states.
- This partnership significantly expanded the critical work PosiGen is doing to bring clean energy into underserved communities.
Conclusion:
The PosiGen partnership is a prime example of the role banks can play in the worldwide effort to build a more sustainable economy. Supporting the ability of more homeowners to access renewable energy is critical as we work toward a net-zero future, and it’s one more way Forbright Bank is working to build a brighter future.
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