(Photo= Yonhap news)

 

[Alpha Biz= Reporter Kim Jisun] Hanwha Solutions' Q CELLS Division (Hanwha Q CELLS) announced on the 22nd that its U.S. residential solar financing subsidiary, EnFin, has successfully completed the sale of asset-backed securities (ABS) totaling $250 million (approximately 350 billion KRW).

The company explained that this sale has diversified and stabilized EnFin's funding portfolio.

EnFin, a 100% subsidiary of Hanwha Q CELLS' U.S. branch, provides financial solutions, including installment financing for solar panel installations, to residential customers. Following a pilot project in 2022, EnFin officially launched its business in January last year.

At the end of last month, EnFin successfully sold the entire amount of ABS, which were backed by loans for residential solar installations. The issuance and transaction involved RBC Capital Markets as the lead underwriter and Banco Santander as a joint bookrunner.

This transaction has secured the necessary funds for EnFin's future financing operations, reinforcing its ability to support the growing demand for residential solar energy solutions.

 

 

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