Global investors are increasingly buying into clean-energy cash flows, notably those generated by the Property Assessed Clean Energy program, amid a thirst for yields. In recent weeks, three American firms led by Renovate America sold bonds worth a combined $625.9 million to global investors, according to ABAlert.com, which monitors deals in asset-backed securities. The PACE program helps home and business owners across the country take loans for up to 20 years to buy energy-saving products including solar panels and improved insulation. The loans are repaid through property tax bills. Besides PACE receivables, clean-energy pools include cash flows from solar-power equipment…
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