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U.S. Bancorp Forms Fund for Vivint Solar Rooftop Lease Projects

By Ehren Goossens - 2011-10-19T14:40:56Z

U.S. Bancorp created a fund to support as much as $75 million in residential rooftop solar installations by Vivint Solar.

The tax-equity fund will finance about 2,400 residential solar installations in New Jersey, Utah, Hawaii and New York, Provo, Utah-based Vivint said today in a statement.

U.S. Bancorp created in June a similar fund with SolarCity Corp. and worked with East West Bancorp to form one for Borrego Solar Systems Inc. Vivint, a closely held developer, installs on consumers’ homes solar-power systems that it owns and receives monthly payments from the homeowners.

To contact the reporter on this story: Ehren Goossens in New York at egoossens1@bloomberg.net

To contact the editor responsible for this story: Will Wade at wwade4@bloomberg.net

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