SAN FRANCISCO, Aug. 13, 2020 /PRNewswire/ -- Loanpal, LLC
("Loanpal") the nation's leader in residential solar financing,
announced today that Blackstone ("Blackstone")
(NYSE: BX), through funds managed or advised by GSO
Capital Partners LP ("GSO") has committed to invest in up to
$300 million of residential solar
loans originated and serviced on the Loanpal platform. Loanpal is
the leading financier of residential solar energy in the
US. Through Loanpal's platform, GSO will provide
financing for solar systems for 10,000 homeowners, dramatically
decreasing the carbon footprints of their homes.
"We are pleased to welcome Blackstone on our platform," said
Tanguy Serra, President and Chief
Investment Officer at Loanpal. "To solve Climate Change we need to
deploy 10 trillion dollars in the US
to replace fossil fuel sources of energy. As opposed to fossil fuel
based energy, renewable power has no feedstock and no ongoing costs
so all that matters are the upfront capital expense and solving for
scale deployment. As one of the largest asset managers in the
world, Blackstone is an ideal partner for Loanpal. Climate Change
will get solved by deploying billions of dollars per month at
stable returns over the next decade."
"We are excited to partner with Loanpal, a leading originator of
consumer solar assets with an exceptional management team. Our
investment will enable Loanpal to continue to expand throughout
the United States, and we believe
represents an attractive opportunity for our investors to earn
compelling risk-adjusted returns and invest in growing demand for
renewable energy," said Rob Camacho, Senior Managing Director
and Co-Head of GSO's Structured Products group, and Rob Horn, Senior Managing Director and Co-Head
of GSO's Energy group.
Loanpal, a fintech company leveraging its deep expertise in
technology, data and lending to make clean energy products more
accessible for homeowners, gives financial partners and solar
installers the confidence to finance residential solar systems and
help combat climate change with sustainable products. Loanpal
partners with credit unions, insurance companies, banks and asset
managers to offer $0 down payment
options. Loanpal has transacted over 130,000 residential
solar systems on its technology platform allowing the production of
over 1 Tera Watt Hour of carbon free energy per year.
About Loanpal
Loanpal is the nation's leading
technology platform for residential solar loans. The company is
committed to delivering a tech-enabled lending experience that
is simple, fast and frictionless, resulting in instant approvals at
the point of sale. Loanpal's platform connects financial
institutions to high-quality borrowers for energy solutions that
make a positive impact on the planet. Loanpal has helped
130,000 customers add solar to their homes and has transacted
$4.0 billion on its platform.
Loanpal is a proud partner of GivePower, a 5013c corporation,
whose mission is to build and deploy solar-powered clean water and
energy systems to communities in need around the world. To
learn more about Loanpal, visit, follow and connect with us at
www.loanpal.com, @loanpal, and Linkedin.
About GSO
GSO Capital Partners LP is the global credit investment platform of
Blackstone. Our credit segment, which consists principally of GSO,
has approximately $138 billion of assets under management. GSO is
one of the largest alternative managers in the world focused on the
leveraged-finance, or non-investment grade related,
marketplace. GSO seeks to generate attractive risk-adjusted returns
in its business by investing in a broad array of strategies
including mezzanine debt, distressed investing, leveraged loans and
other special-situation strategies. Its funds are major providers
of credit for small and middle-market companies and they also
advance rescue financing to help distressed companies.
Contact: press@loanpal.com
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SOURCE Loanpal