Clean Fund LLC
Clean Fund LLC
Clean Fund is a specialty finance company providing Property Assessed Clean Energy (PACE) project finance to commercial and other eligible property owners and the energy service and equipment providers who serve them. Clean Fund completed the first privately financed commercial PACE transaction in 2011 for a 1MW PV system in Sonoma County, CA. In 2012, Clean Fund completed the first private PACE financing outside California for a 27kW PV system in Edina, MN.
For more information about Clean Fund, visit the website.
Clean Fund is committed to providing efficient, flexible and cost-effective PACE project finance for its partners in all communities where commercial PACE programs are established. While over half of U.S. states have authorized PACE finance, the majority of the early programs (and thus financing activity) are in California.
In general, eligible properties are those that are able to pay property taxes while eligible projects are those that provide energy efficiency improvements or those that produce renewable power. In a few states and municipalities, other measures such as water efficiency improvements are PACE-finance eligible.
Clean Fund's primary offering is 10-20 year PACE financing for projects and properties that meet local program eligibility criteria and Clean Fund underwriting criteria. Target financing size is $500,000 to $5 million. Clean Fund sources funds from multiple capital providers in order to provide the most attractive PACE financing terms to the broadest range of projects, properties and programs. In structuring PACE transactions, Clean Fund works collaboratively with property owners, equipment vendors, mortgage lenders and local governments to optimize across the parties’ objectives and requirements.
Clean Fund is a specialty finance company providing Property Assessed Clean Energy (PACE) project finance to commercial and other eligible property owners and the energy service and equipment providers who serve them.