SunStrong Closes $900 Million Residential Solar ABS Transaction
Marks Largest Solar ABS Issuance of 2025, Underscoring Strength of SunStrong’s Servicing Platform and Investor Demand for Distributed Energy Assets
AUSTIN, Texas, Oct. 02, 2025 (GLOBE NEWSWIRE) -- SunStrong Capital Holdings, LLC (“SunStrong”) today announced the closing of a $900 million asset-backed securitization (ABS) of residential solar assets.
SunStrong Issuer 2025-1, LLC (“STRONG 2025-1”) is the second securitization on the SunStrong shelf, supported by SunStrong Management, LLC (“SunStrong Management”) in its role as Transaction Manager.
The securitization refinances a large portfolio of residential solar assets originally developed by SunPower. As the largest solar ABS issuance in the market this year, STRONG 2025-1 underscores both the strength of SunStrong’s servicing platform and the continued institutional demand for high-quality distributed energy assets.
The transaction was led by HASI and GoodFinch, two of the most active sponsors in distributed clean energy finance, and achieved broad participation across institutional investors.
SunStrong Management is the first and only full-service asset manager not attached to an origination platform, offering dedicated solar expertise and an exclusive focus on delivering service to customers and investors.
Transaction Details
The transaction was structured with four tranches: a public A-1, private A-2, and retained Class B and Class C. After attracting strong demand and oversubscription, the public Class A-1 notes priced at a coupon of 5.95%.
The notes are backed by a diversified portfolio of 64,024 solar assets distributed across 18 states, representing approximately 528MW of generation capacity. The assets in the STRONG 2025-1 pool have a weighted average FICO of 763. The transaction was priced on September 19, 2025, and closed on September 30, 2025.
ATLAS SP Partners (“ATLAS”), the warehouse finance and securitized products business majority owned by Apollo funds, served as the sole structuring agent and joint bookrunner on the transaction. ING Financial Markets LLC also served as a joint bookrunner, with Bank of America Securities and Citigroup acting as co-managers.
Commentary
Brendon Merkley, CEO of SunStrong Management, said: “This securitization marks another significant milestone for SunStrong and reflects the power of our exclusive business model and our disciplined approach to service. We remain committed to maintaining the highest level of service for all our customers and stakeholders.”
Spencer Hunsberger, Head of Energy Origination at ATLAS, said: “This landmark ABS securitization is the culmination of SunStrong's work to create an independent servicing model on one hand, and a uniquely scaled residential solar portfolio on the other. STRONG 2025-1 demonstrates their vision and commitment to distributed energy customers and investors, and we look forward to continuing our partnership with SunStrong as they drive innovation and long-term value creation across the sector.”
This press release does not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction.
About SunStrong
SunStrong Capital Holdings, LLC owns a fleet of over 110,000 residential solar loans and leases across the U.S. totaling nearly 1 GW of power generation capacity and 19 MW of commercial solar assets. SunStrong Management, LLC is an independent asset management and servicing company with dedicated expertise in residential and commercial solar asset classes. Its capabilities include full-service billing and collections, operations & maintenance, asset management, legal/compliance, and tax and accounting services. With an industry-veteran leadership team and a growing national footprint, SunStrong delivers reliable, scalable solutions that promote sustainable lifestyles and long-term value creation. For more information, visit https://sunstrongmanagement.com/
About ATLAS SP Partners
ATLAS SP is a global investment firm providing stable capital, financing, advisory and institutional products to market participants seeking innovative and bespoke structured credit and asset backed solutions. We’re proud to build upon a legacy of client excellence that includes certainty of execution, deep expertise and full-service capabilities across the asset management landscape. For more information, visit atlas-sp.com.
Media Contact:
Kate Thompson / Tim Ragones / Kate Kelley
Joele Frank, Wilkinson Brimmer Katcher
sunstrong@joelefrank.com
Legal Disclaimer:
EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.
