The Solar Energy Industries Association is absorbing the Solar Energy Finance Association in a move both groups said would provide industry players better access to investment capital.

SEIA is a Washington, D.C.-based, $9-million nonprofit association while SEFA is California nonprofit mutual-benefit corporation formed in 2015. The merger will lead to the creation of the Solar Energy Finance Advisory Council, an entity run by SEIA that will seek to expand and lower the cost of investment capital to meet the growing needs of the solar industry.

"We are excited to combine with SEFA for the good of the solar industry," said Tom Kimbis, interim president of SEIA. "Solar projects represent a high-quality source of long-term cash flows, making them great investment opportunities."

The new council will explore ways to expand the supply of tax equity for solar projects, open capital market opportunities, and communicate the technical and financial performance of solar projects to improve understanding and confidence among investors.

"This is an important strategic move for us," said Mary Rottman, president of SEFA. "Backed by the staff and resources from SEIA, we are very optimistic that we will achieve our mission of reducing the cost of capital and furthering growth in the solar industry."

Neither group said what staff changes would occur as a result of the merger. SEIA reportedly has tapped Obama administration official Abigail Ross Hopper as its next CEO, but the association had not confirmed the appointment as of Thursday. http://bit.ly/2iM4qMd

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