Sol Systems Breaks Down Financing Barriers for Commercial Solar, Grows Value of 1.7 MW Indiana Solar Portfolio
Sol Systems continues to expand its mid-market focus and successfully arranged financing for a 1.7 MW portfolio of solar projects located in Indiana. Solscient Energy built the four commercial projects, each with different landlords, ranging in size from 243 kW to 643 kW.
Sol Systems’ project finance team originated and completed underwriting for each project and worked closely with Solscient to market the portfolio before placing the deal with one of its investor clients to maximize the portfolio’s value. Solscient Energy is a solar integrator, developer, and independent power producer.
“After working with Sol Systems’ knowledgeable team, we realized that we had several financing options, and we could optimize the value of the projects by placing the portfolio with a takeout investor,” said Granger Souder, co-founder of Solscient. “Sol Systems’ entire team was responsive and easy to get a hold of, and we are very happy with the result.”
“Working with the Solscient team was great, and this deal represents just the type of collaboration with developers that we love, and the value that our investor clients offer,” noted Yuri Horwitz, CEO of Sol Systems. “In this case, after determining the overall financeability of the project, and engaging with the Solscient team, we helped secure multiple offers and a term sheet within a few short weeks and significantly reduced overall transaction costs.”
This transaction represents Sol Systems’ continued focus on its investment advisory services to the solar industry. Since 2008, the company has focused on the most challenging barriers to success for solar developers and investors, including its initial focus on monetizing solar renewable energy credits and more recent successes in sourcing tax equity and accessing capital for mid-market solar projects. The Sol team provides transactional guidance, deal structuring, and financing for solar developers like Solscient across the United States. The company has helped facilitate over $50 million in solar project financing in the last 6 months, and plans to facilitate over $150 million in project finance in 2013.
About Sol Systems
Sol Systems is a boutique financial services firm that offers investor clients direct access to the renewable energy asset class and provides developers with sophisticated project financing solutions. Founded in 2008, Sol Systems focuses on meeting the most critical needs of the industry, including SREC monetization, capital placement, tax equity, and New Market Tax Credits. To date, the company has arranged financing for thousands of projects and facilitated hundreds of millions in investment on behalf of Fortune 100 companies, private equity, family offices and individuals.