An asset-backed securities deal from issuer SolarCity is inching closer, as expiring tax incentives and economics make this a good time for solar companies to turn to securitization, according to Michael Mittleman, director of project finance for SolarCity.
A solar panel lease-backed ABS deal from SolarCity has been tipped in the past (SI, 5/27), but Mittleman reaffirmed plans and gave a target issuance date of early 2012. Mittleman spoke at a recent American Securitization Forum panel, along with other industry representatives about the potential for publicly offered solar panel deals.
Cory Wishengrad, co-head of structured products at Barclays Capital, said while solar panel....