Amid Reach For Yield, ‘Green’ Deals Are Hot

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...