Palmetto Issues $420,000,000 securitization, marking its second ABS transaction of 2025

Backed by 22,188 residential solar PPAs and leases, transaction underscores accelerating momentum in residential solar financing

CHARLOTTE, N.C., Oct. 6, 2025 /PRNewswire/ -- Palmetto, a leading provider of clean technology products and services, today announced the close of its second asset-backed securitization (ABS) of 2025. The $420 million transaction is backed by a pool of 22,188 residential solar power purchase agreements (PPAs) and leases.

This securitization demonstrates Palmetto's continued ability to access the capital markets. Palmetto's second securitization in 2025 follows an earlier issuance that closed on April 15 for approximately $286 million.

Together, these transactions bring Palmetto's year-to-date term ABS issuance to more than $716 million. By broadening sources of capital and creating efficient financing pathways, Palmetto is enabling more homeowners across the U.S. to benefit from affordable clean energy.

"U.S. homeowners are looking for energy solutions that deliver cost stability, grid resiliency, and clean power. We're seeing accelerating adoption between the interplay of rooftop solar, battery storage, EV charging, and intelligent load management, all working together to maximize savings and efficiency. The assets included in our second ABS transaction demonstrate this shift, supporting time-of-use and grid-services programs that directly benefit and reward consumers," explained Chris Kemper, Founder and CEO of Palmetto.

"Palmetto's strategy is to make clean energy and home efficiency more accessible, affordable, and resilient by combining a trusted consumer marketplace with a software-driven origination and servicing platform, supported by a differentiated capital markets program. We are building a broad, diversified financing approach that leverages the strength of the ABS market. These back-to-back transactions highlight not only Palmetto's momentum, but also the maturation of residential solar as a mainstream, high–credit-quality asset class with strong long-term growth potential."

The securitization was structured by Bank of America Securities. Active Joint Book Runners included Bank of America Securities, Deutsche Bank Securities, Morgan Stanley, and RBC Capital Market, with Citigroup and HSBC serving as Passive Joint Book Runners.

"By successfully closing this transaction, we're proving that residential solar remains an attractive and resilient asset class," said Derek Heckendorn, Chief Capital & Business Development Officer at Palmetto. "Access to institutional capital is critical to scaling clean energy adoption and accelerating the transition to a more resilient home energy system."

About Palmetto

Palmetto is an award-winning clean tech company dedicated to accelerating the transition to a clean energy future. By leveraging a cutting-edge technology platform, Palmetto simplifies the adoption of renewable energy for homeowners, fosters innovation among businesses and clean tech entrepreneurs, and drives scalable environmental impact.

Palmetto's platform integrates digital tools, data assets, and actionable insights to create an end-to-end solution powering its consumer marketplace. The company operates as both a B2B and D2C provider, offering software, financial products, and support services that deliver competitive pricing and exceptional value to end consumers. Key offerings include the LightReach financing and asset management platform, service plans for solar, HVAC and energy backup, and more innovations on the near horizon.

Committed to making clean energy accessible to everyone, Palmetto's Get Solar, Give Solar program funds philanthropic initiatives to bring renewable energy to underserved communities worldwide. A triple bottom line company with team members across the United States, Palmetto prioritizes people, planet, and profit in every aspect of its operations.

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SOURCE Palmetto Clean Technology, Inc.