Loanpal partners with Blackstone to deploy $300 million of residential solar loans in 2020

SAN FRANCISCO, Aug. 13, 2020 /PRNewswire/ -- Loanpal, LLC ("Loanpal") the nation's leader in residential solar financing, announced today that  Blackstone ("Blackstone") (NYSE: BX), through funds managed or advised by GSO Capital Partners LP ("GSO") has committed to invest in up to $300 million of residential solar loans originated and serviced on the Loanpal platform. Loanpal is the leading financier of residential solar energy in the US.  Through Loanpal's platform, GSO will provide financing for solar systems for 10,000 homeowners, dramatically decreasing the carbon footprints of their homes. 

"We are pleased to welcome Blackstone on our platform," said Tanguy Serra, President and Chief Investment Officer at Loanpal. "To solve Climate Change we need to deploy 10 trillion dollars in the US to replace fossil fuel sources of energy. As opposed to fossil fuel based energy, renewable power has no feedstock and no ongoing costs so all that matters are the upfront capital expense and solving for scale deployment. As one of the largest asset managers in the world, Blackstone is an ideal partner for Loanpal. Climate Change will get solved by deploying billions of dollars per month at stable returns over the next decade."

"We are excited to partner with Loanpal, a leading originator of consumer solar assets with an exceptional management team. Our investment will enable Loanpal to continue to expand throughout the United States, and we believe represents an attractive opportunity for our investors to earn compelling risk-adjusted returns and invest in growing demand for renewable energy," said Rob Camacho, Senior Managing Director and Co-Head of GSO's Structured Products group, and Rob Horn, Senior Managing Director and Co-Head of GSO's Energy group.

Loanpal, a fintech company leveraging its deep expertise in technology, data and lending to make clean energy products more accessible for homeowners, gives financial partners and solar installers the confidence to finance residential solar systems and help combat climate change with sustainable products.  Loanpal partners with credit unions, insurance companies, banks and asset managers to offer $0 down payment options.  Loanpal has transacted over 130,000 residential solar systems on its technology platform allowing the production of over 1 Tera Watt Hour of carbon free energy per year.

About Loanpal
Loanpal is the nation's leading technology platform for residential solar loans. The company is committed to delivering a tech-enabled lending experience that is simple, fast and frictionless, resulting in instant approvals at the point of sale. Loanpal's platform connects financial institutions to high-quality borrowers for energy solutions that make a positive impact on the planet.  Loanpal has helped 130,000 customers add solar to their homes and has transacted $4.0 billion on its platform.  Loanpal is a proud partner of GivePower, a 5013c corporation, whose mission is to build and deploy solar-powered clean water and energy systems to communities in need around the world.  To learn more about Loanpal, visit, follow and connect with us at www.loanpal.com, @loanpal, and Linkedin.

About GSO
GSO Capital Partners LP is the global credit investment platform of Blackstone. Our credit segment, which consists principally of GSO, has approximately $138 billion of assets under management. GSO is one of the largest alternative managers in the world focused on the leveraged-finance, or non-investment grade related, marketplace. GSO seeks to generate attractive risk-adjusted returns in its business by investing in a broad array of strategies including mezzanine debt, distressed investing, leveraged loans and other special-situation strategies. Its funds are major providers of credit for small and middle-market companies and they also advance rescue financing to help distressed companies.  

Contact:  [email protected]

View original content to download multimedia:http://www.prnewswire.com/news-releases/loanpal-partners-with-blackstone-to-deploy-300-million-of-residential-solar-loans-in-2020-301112196.html

SOURCE Loanpal