Sunrun residential solar + storage securitization — 4th 2025 securitization, 15th since 2015

Sunrun 2026-1 — $584M residential solar + storage ABS backed by 38,706 customer leases & PPAs across 19 states + DC + Puerto Rico; A-1 notes priced at 220 bps spread (20 bps tighter than 2025 transactions)

Sunrun Inc. → Atlas SP (sole structuring agent + joint bookrunner); BofA Securities, MUFG, Truist Securities (joint bookrunners); ING (co-manager)

$584M

Sunrun Bacchus Issuer 2025-1 — $629M securitization of 39,458 residential solar leases/PPAs

Sunrun → ATLAS SP Partners (structuring agent)

$629M

Sunrun 2024-3 — $365M senior securitization of residential solar & battery systems backed by 21,281 systems across 19 states + Puerto Rico

Sunrun

$365M

Arena Renewables — distributed-generation solar + BESS developer with ~1 GW US pipeline; founded July 2023; existing leadership team retained post-close

Arena Renewables (founders / management) → Headwater Energy

BrightNight–Cordelio Power JV portfolio buyout — 6 GW of development-stage solar + BESS projects across Western US transferred to BrightNight (out of original 15 GW JV); JV retains 4 assets — Box Canyon (300 MW solar, AZ, operating), Greenwater (200 MW / 800 MWh BESS, WA, construction), Pioneer (300 MW solar + 300 MW / 1,200 MWh BESS, AZ, construction), Biglow 1 (125 MW solar + 125 MW / 600 MWh BESS, fully contracted)

Cordelio Power → BrightNight

Solar Landscape distributed/community solar warehouse facility — anchors 146 MW community solar portfolio across New Jersey, Illinois, Maryland, and Minnesota

Solar Landscape → First Citizens Bank

$600M