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Marathon Capital Advises Wunder on Partnership with ClearGen

May 25, 2022


Mergers and Acquisitions

  • Terry Grant

    Vice Chairman

  • Josh Cornfeld

    Managing Director

Marathon Capital, LLC ("Marathon Capital") is pleased to announce that Wunder has closed one of the largest commercial solar deals in U.S. history with ClearGen, a Blackstone Credit portfolio company. The new partnership provides up to $650 million to fund commercial solar projects.

Marathon Capital acted as exclusive financial advisor to Wunder.

Wunder is a leading provider of commercial and industrial solar solutions, delivering value across the solar landscape through both project finance and development activities. Wunder focuses on the under-served market majority: rooftop and other on-premise solar installations which are typically below five megawatts in size, and projects for commercial tenants that do not carry an investment grade credit rating. To help clients seamlessly capture solar’s financial and sustainability benefits, Wunder leverages proprietary technology and market expertise to programmatically deliver turn-key solar systems across properties nationwide.

The partnership with ClearGen (which includes loan purchase commitments, the acquisition of an existing solar loan portfolio, and preferred asset financing) is complemented by a new corporate equity round led by Keyframe Capital, arming Wunder with all the resources needed to accelerate solar deployment in the commercial and industrial solar market.

For more information on this transaction, please contact Terry Grant or Josh Cornfeld


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