NEW ORLEANS — PosiGen has announced that a direct lending infrastructure fund managed by Brookfield Asset Management has expanded its funding commitment to include an additional $150 million investment. Brookfield and PosiGen began working together in 2023. The investment, now totaling $400 million, aims to bring savings and clean energy to more homeowners.
Founded in 2011, PosiGen is a New Orleans-based provider of renewable energy and energy efficiency solutions for underserved communities and a certified Public Benefits Corporation. The company said it has more than 600 employees nationwide and has served nearly 30,000 customers in more than a dozen states, including Connecticut, New Jersey, Pennsylvania and Massachusetts. Nearly half of its business is conducted outside of Greater New Orleans.
“Brookfield’s support for meaningfully upsizing its financial commitment so quickly is a testament to the strength of our business model and shows that doing good for communities is good business,” said Peter Shaper, CEO of PosiGen, in a press release. “With this growing partnership secured, we can continue to scale our business and give more customers the opportunity to achieve energy savings and benefit from our unique savings guarantee without regard to FICO score or income thresholds.”
PosiGen said it has installed nearly 30,000 solar systems, produced over 645,000,000 kilowatt-hours of energy from solar panels and saved homeowners more than $65 million through solar and energy efficiency. It will use the new investment to fuel more growth.
“We are delighted to extend our partnership with PosiGen,” said Hadley Peer Marshall, managing partner, co-head of Brookfield’s infrastructure debt and structured solutions businesses. “With the increase of our commitment we look to advance PosiGen’s growth in delivering solar and meaningful savings to more households in the U.S. This partnership is a great example of our strategy to invest in high-quality infrastructure businesses that are leading the way in energy transition.”
Connecticut Green Bank also renewed its commitment to PosiGen.
“In Connecticut, we have seen thousands of families benefiting from solar and energy efficiency upgrades to their homes through PosiGen’s dedication to Solar for All,” Bryan Garcia, Connecticut Green Bank CEO, said. “The continued investment from Brookfield is an endorsement of their commitment to this proven concept and will help PosiGen create more jobs and more savings in our underserved communities.”
“Solar for all is more than a statement, it’s the guiding principle on which this organization was founded,” said Thomas Neyhart, founder and executive chairman of PosiGen’s board of directors. “We are grateful for partners like Brookfield who help us advance our mission to make solar accessible for every person, particularly those in underserved communities.”
