Sunrun Radcliffe
Sunrun is a market leader in U.S. residential solar with a strong track record of deployments and is the largest residential solar developer in the United States.
There is a strong residential solar Market Outlook and despite a ten year 15% CAGR in new customer originations, growth is projected at a 13% CAGR through 2027. Sunrun’s business model is transitioning to a phase where it can generate significant cash inflows. This improves the stability of the corporate and resilience to potential market downturns.
Sequoia has provided a revolving HoldCo facility to finance the safe harbour programme. The transaction has been structured with this programme closely in mind, allowing Sunrun to purchase equipment in a way that satisfies IRS safe harbour guidelines.