Renovate America opens up 2020 PACE pipeline

By Jennifer Kang
26 Feb 2020

Residential Property Assessed Clean Energy (PACE) finance company Renovate America filed an ABS 15-G this week, announcing plans to bring the first deal of 2020. Despite regulatory burdens that have resulted in lower ABS volumes, PACE providers are expecting a steady year, with another 144A deal slated to come as early as April, according to sources at SFVegas 2020 this week.

The residential PACE market has been struggling to boost origination volumes ever since 2018, following the implementation of consumer protection laws in California. The regulatory challenges have seriously dented ABS volume — total issuance went from $1.52bn in 2017 to $796m in 2018.

The noise around California regulations ...

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