Wunder Announces Partnership with ClearGren

Commercial and industrial solar solutions provider Wunder announced that the company is partnering with ClearGen, a Blackstone Credit portfolio company, providing Wunder with a large-scale capital solution to supply funds for the deployment of commercial solar. 

"Through this partnership, we’re excited to accelerate the deployment of solar and address one of the largest untapped market opportunities that exists today,” said Dave Riess, CEO, Wunder. 

Committed to its mission of providing practical renewable energy solutions for commercial and industrial real estate owners and tenants, Wunder aims for the under-served market majority: rooftop and other on-premise solar installations.

The company’s partnership with ClearGen (which includes loan purchase commitments, the acquisition of an existing solar loan portfolio, and preferred asset financing) is supported by a new corporate equity round led by Keyframe Capital, equipping Wunder with the necessary resources to speed up the solar deployment in the commercial and industrial solar market.

The US commercial and industrial sectors make up approximately 62% of the country’s total energy consumption every year as per data made available by the US Energy Information Administration.

Although rooftop solar adoption within the sector has grown over the last decade, market penetration still sits below 5%. Boosted deployment of on-site solar has the potential to showcase a meaningful step ahead in the effort to curb an estimated 3.5 trillion lbs of CO2 emitted by the U.S. commercial and industrial sector each year.

The transaction was supported by Marathon Capital, an independent investment bank delivering strategic financial advice to the clean energy, sustainable technologies, and infrastructure markets.