Pathward Announces Strategic Partnership to Support Renewable Energy Loan Growth
A partner-driven model with BridgePeak Energy Capital will provide co-innovation and industry expertise to accelerate efficient, scalable and predictable growth within Pathward’s renewable energy initiative.
SCOTTSDALE, Ariz.–(BUSINESS WIRE)–Pathward®, N.A. (Pathward), a U.S.-based financial empowerment company driven by its purpose to power financial inclusion, has announced its expanded strategic partnership with BridgePeak Energy Capital (BridgePeak) to implement a digital-first renewables loan platform. Together, the partnership between Pathward and BridgePeak will facilitate industry innovation and the continued growth of clean energy and rural economic development.
Focused on both project-level and corporate capital, the partnership allows Pathward to offer comprehensive solutions to solar and storage projects by leveraging BridgePeak’s industry knowledge and extensive relationships. In addition to supporting solar and battery storage developers, Pathward will continue its focus on biogas, waste-to-value, hydrogen fuel cells, and electric vehicle charging infrastructure projects.
BridgePeak is the nation’s leading renewable energy lender service provider with more than $3.5 billion in closed loans to solar, storage and biogas projects across the U.S. BridgePeak supports flexible capital solutions (up to $150 million) to middle market renewable projects through a comprehensive suite of debt products across every phase of the project lifecycle.
“The expanded partnership with BridgePeak Energy Capital is exciting and allows us to provide loans to renewable energy and storage projects more efficiently and more effectively,” said Christopher Soupal, Divisional President and Revenue Lending Officer of Pathward. “In these dynamic times, sophisticated renewable energy developers demand a highly efficient and knowledgeable capital partner. Pathward is excited to deepen our relationship with BridgePeak Energy Capital.”
Over the past several years, BridgePeak has assisted Pathward in closing and servicing loans for more than 1.39 GW of projects totaling more than $2 billion in fundings. In addition to corporate and development capital, the partnership has focused on conventional construction loans and USDA-guaranteed loans under the Rural Energy for America and Business and Industry loan programs.
“This partnership highlights Pathward’s commitment to the U.S. renewable energy sector,” said Shawn Andrews, CEO of BridgePeak. “By offering credit products with proper risk adjusted pricing and efficient timelines, our partnership will create a new standard for middle market renewable energy lending. From development through construction to term debt, we are uniquely positioned to finance the entire project lifecycle. We couldn’t be more excited about this partnership with Pathward.”
About Pathward®
Pathward®, N.A., a national bank, is a subsidiary of Pathward Financial, Inc. (Nasdaq: CASH). Pathward is a U.S.-based financial empowerment company driven by its purpose to power financial inclusion. Pathward strives to increase financial availability, choice and opportunity across our Partner Solutions and Commercial Finance business lines. The strategic business lines provide end-to-end support to individuals and businesses. Learn more at Pathward.com.
About BridgePeak Energy Capital
BridgePeak Energy Capital (formerly known as Palmetto Energy Capital) is the country’s leading renewable energy loan service provider to banks and private credit funds. BridgePeak provides comprehensive loan origination, underwriting, closing, servicing and portfolio management solutions designed to maximize value for all stakeholders. As of September 2024, BridgePeak manages a portfolio of more than $2 billion in construction and term loans and $300+ million of development loans for its capital partners. For more information about BridgePeak Energy Capital, visit https://www.BridgePeak.com/.
Contacts
Pathward
Courtney Heidelberg
605.291.7044
BridgePeak Energy Capital
