Rabobank has been working with SolarCity since 2010 including a collaboration to install photovoltaics to the bank’s branches and a solar-powered electric vehicle charging corridor between Low Angeles and San Fracisco.
In a statement announcing the fund, SolarCitys Lyndon Rive said that through the fund, the solar installer can help businesses produce clean power and save on electricity bills. "We can allow many businesses to install solar panels for free, and pay less for solar electricity than they pay for utility power," said Rive.
SolarCity has installed more than 1,000 installations for U.S. business and non-profit organizations.
"In 2010, we partnered with SolarCity to bring solar energy to a number of our branches in California, and we’re excited to help other businesses do the same," said Marco Krapels, from Rabobank. The bank claims to be "a leader" in U.S. renewable energy project finance.