SVB Failure Leaves Small US Solar Projects Needing New Ally
The fallout from Silicon Valley Bank’s collapse continues to be felt across industries. Bloomberg Quicktake’s Madison Mills explains how the community solar projects are feeling the heat.
Climate tech startups appear to have averted a crisis after the US government moved to backstop the failed Silicon Valley Bank and guarantee deposits. But questions remain over one renewables niche in which the lender had developed a specialty, and where projects may now need to find a new ally.
SVB was perhaps best known in the renewables world for supporting small-scale projects, including so-called community solar projects, which other lenders often avoided because of the onerous legal and tax paperwork.
Subscribe to our YouTube channel: https://bit.ly/2TwO8Gm
Subscribe to Bloomberg Originals: https://www.youtube.com/BloombergTV
Bloomberg Quicktake brings you global social video spanning business, technology, politics and culture. Make sense of the stories changing your business and your world.
Connect with us on…
Breaking News on YouTube: https://www.youtube.com/@BloombergQuicktakeNow
Source: Bloomberg Quicktake