SolarCity (SCTY), Credit Suisse Enter Agreement to Finance $300M+ of Residential Solar Projects

October 17, 2016 5:01 PM EDT

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SolarCity Corp. (Nasdaq: SCTY) announced that it has created a new fund to finance more than $300 million in solar projects with Credit Suisse. The fourth such collaboration between SolarCity and Credit Suisse will allow thousands of homeowners in the U.S. to pay less for solar electricity than they pay for utility bills.

The fund represents another new financing for SolarCity, following a $305 million cash equity financing and a fund to finance $347 million in projects with Citi that closed last month.

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