The EcoCity Partners team, including Erin Deady, Amy Elliott and Maureen Eppley, will join Renew Financial effective immediately.
Renew Financial also entered a strategic alliance with Demeter Power Group, a Florida-based firm that finances solar installations for small- and medium-sized businesses (SMB).
"I am very pleased that we can bring EcoCity Partners into the Renew Financial family,” Renew Financial founder and CEO Cisco DeVries said. “Together, we will be able to quickly scale our (Property Assessed Clean Energy) PACE offerings across the State of Florida. We have worked closely with EcoCity Partners for years."
Demeter Power, which pioneered zero-down solar financing for the SMB segment, expressed satisfaction with the transaction.
"For all of our cities and counties, our contractors and our property owner customers, we could not be more excited," EcoCity President Michael Wallander said. "We are looking forward to working closely with Cisco and his colleagues at Renew Financial to continue to scale PACE in Florida, and nationally, for many years to come."
EcoCity Partners develops innovative public-private partnerships that create green jobs, facilitate renewable energy and energy-efficiency property improvements, and strengthen communities.
DeVries, who founded Oakland, California- based Renew Financial in 2008, created the PACE financing model. Endorsed by President Barack Obama and Scientific American, PACE lets property owners finance energy, water and renewable energy upgrades to their homes and businesses, repaying the costs through their property tax bill.
"Demeter Power Group has spearheaded a truly innovative commercial solar financing product aimed particularly at helping contractors close more deals,” DeVries said. “Our partnership with Demeter will further build our leadership position in providing a full spectrum of financing options for renewable energy and energy- and water-efficiency upgrades on commercial properties."
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