EnFin, the US-based residential solar financing subsidiary of Hanwha Q Cells, recently completed the sale of its first asset-backed securities valued at $250 million, as announced by the Korean energy solution provider on Wednesday. EnFin offers financial solutions to homeowners who install solar panels and commenced operations in January 2023. The asset-backed securities consist of bonds supported by thousands of consumer loans, with RBC Capital Markets serving as the sole structuring advisor and book-runner, and Santander as co-manager in the transaction. EnFin CEO Alex Kaplan highlighted that the deal reflects confidence in the Hanwha Q Cells brand in the solar financing sector and broader capital markets, emphasizing the company's unique position as the only financing platform backed by a major manufacturer. In addition to the ABS transaction, Hanwha Q Cells has successfully diversified its funding portfolio for its financing business, despite challenges in the financial sector. EnFin also closed two revolving credit facilities (RCF) totaling $500 million, one with RBC Capital Markets in April 2023 and the other with Santander in January 2024. These facilities allow EnFin to access funds for business operations, repay them, and then borrow again. Moreover, EnFin has amassed around 18,000 consumer loan contracts, totaling over $800 million in principal balances.