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SolarCity to finance solar projects with $345M in tax equity

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SolarCity to finance solar projects with $345M in tax equity

has raised $345 millionin tax equity from four separate partners to help finance new solar projects bycovering the capital cost of new equipment and installations.

The company's borrowing limithas also increased by $110 million to $760 million after new lenders came onboard its existing debt aggregation facility, according to a July 18 newsrelease.

Elsewhere, SolarCity said italso expanded its solar renewable energy credit financing facility to acceptfive years of hedged SRECs.

The company hasraised more than $1.5 billion in project financing this year.