Seventy percent of the fund's proceeds are handled like a traditional leasing deal with tax deferrals.

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He says Sungevity has put together an initial small fund from investors to finance the residential power purchase agreements and would be looking to banks, leasing companies and other institutions for further financing.

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Helping to fund some of his reconstruction projects will be proceeds of the sale of Morgan Stanley's aircraft leasing business, which has 155 aircraft leased to some 75 customers.

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