Empower Energies, a clean energy project solutions company, announces the launch of the Developer Growth Engine, an online tool suite for renewable energy developers seeking project financing for commercial Solar or Combined Heat and Power (CHP) projects. This web-based platform features a Project Pricing Tool that developers can use to quickly establish indicative pricing for Power Purchase Agreements (PPAs) or Energy Service Agreements (ESAs), as well as a simplified pathway for sourcing development capital, construction financing, “take-out” capital, and back-office services.
“Financing is one of the commercial solar developer’s greatest challenges, whether they need the development capital to take a project to NTP, the construction finance to get that project to COD or, ultimately, someone to buy the project,” said Michael Wright, Executive Vice President, Strategic Marketing for Empower Energies. “With the Developer Growth Engine, developers get direct access to all of these forms of finance, as well as a quick understanding of the competitive terms of their project pricing.”
Understanding whether or not a solar project will “pencil” – in other words, be financially rewarding to the customer and the investor – is something developers need to understand very early on in a project-engagement cycle. With the mobile-friendly Project Pricing Tool, developers enter basic information about the customer opportunity and receive indicative pricing the same business day. For developers who need a faster response, the Company provides a help number that offers direct access to a team that can provide pricing in real time.
By using the Developer Growth Engine, Developers may present a fast, compelling renewable energy value-proposition that is a win-win for all involved. Customers realize savings sooner, as projects can get off-the-ground even more quickly. Developers benefit from sustained project involvement over the long-term with options of choices left up to them.
The Developer Growth Engine also offers a streamlined path for developers to procure construction finance to fund up to 100% of their project costs. Even development capital, the most-difficult financing to acquire, is available through the portal.
Traditional commercial banks may not be the ideal financing partner for a developer’s business model, because they are not developers themselves. Empower Energies, with its strong background in development, understands a developer’s operational requirements intuitively, and can provide financing more attuned to the needs on the ground and the known interests of local developers.
“We are committed to the success of our developer partners. From the structure of our solutions to the tools we provide, we strive to demonstrate value at every interaction,” said Len Jornlin, Chief Executive Officer of Empower Energies. “It’s this value we understand first-hand. Most of our management team has been innovating in the renewable energy industry, and partnering with developers, for over 20 years. So we’ve learned what works and what doesn’t. Making things simple and profitable for customers, developers, and investors alike is the hallmark of success.”
Empower Energies is a clean and renewable energy solutions provider with a focus on Solar and Combined Heat and Power (CHP) or cogeneration technologies. The Company’s U.S. geographic reach has recently extended to South Carolina, where Empower Energies now offers that state’s first-ever solar lease for businesses. Empower Energies currently works with developers across the U.S. with an eye towards continued expansion. The company is currently looking for projects to acquire.
“More than ever, commercial customers are viewing energy as a resource they can control, and for which they have choices. This has opened up many new opportunities for developers. We see the Developer Growth Engine as a key tool, enabling them to favorably compete in this changing energy landscape,” added Jornlin.
Empower Energies previewed the Developer Growth Engine at a reception held off-site during the recent Solar Power PV Conference and Expo, a green power event hosted by the Solar Energy Industries Association (SEIA) and the Solar Electric Power Association (SEPA) in Boston from February 24-25, 2016.
To explore the Developer Growth Engine, visit http://GrowthEngine.EmpowerEnergies.com.
Empower Energies, Inc., headquartered in Frederick, Maryland, is a clean energy project solutions provider focused on applying the right mix of combined heat and power, PV solar, and energy optimization solutions – with financing – to meet the profitability, resiliency and sustainability objectives of hospitals, universities, municipalities, and schools, as well as multi-facility commercial and industrial organizations.
Filed Under: Financing, News