SunRun Gets $630 Million to Install Rooftop Solar Power

Sunrun Inc., a closely held rooftop solar power provider, won financing from investors including JPMorgan Chase & Co. to install more than $630 million of residential systems.

Sunrun, which purchases and installs solar power equipment for homes and then sells the output to homeowners under 20-year lease agreements, now has commitments to finance more than $2 billion in projects, co-founder and co-chief executive officer Ed Fenster said today in a statement.

SunRun, based in San Francisco, also hired Citigroup Inc.’s Jason Cavalierre as vice president of project finance to help expand low-cost financing for solar systems.