星期六, 九月 26, 2020
Home PV News kWh Analytics signs second Solar Revenue Put with IGS Solar

kWh Analytics signs second Solar Revenue Put with IGS Solar

Source:kWh Analytics

kWh Analytics, the market leader in solar risk management, today announced that it structured a Solar Revenue Put for a portfolio of 4,000 projects totaling approximately 30 MWDC of capacity located in the Northeast, Florida and California. The facilities are being developed and managed by IGS Solar, a residential and commercial solar developer. The IGS Solar portfolio is being funded by ING Capital. Swiss Re, a global corporate insurer, is providing capacity for the Solar Revenue Put.

This is the first publicly announced repeat closing with the Solar Revenue Put. The Solar Revenue Put supported a financing with IGS Solar, ING and others in November 2018 for a 30-MW portfolio of 4,000 projects located in the Northeast United States.

The Solar Revenue Put is structured as an insurance policy on solar production and PPA revenues, which serves as a credit enhancement for financial investors. Using its proprietary actuarial model and risk management software (HelioStats), kWh Analytics developed the Solar Revenue Put to drive down investment risk and encourage development of clean, low-cost solar energy.

“We have again found efficient and reliable execution with our partners, ING, and kWh Analytics. The Solar Revenue Put enables us to both enhance our returns and reduce our downside risk,” says Mike Gatt, Chief Operating Officer of Distributed Generation at IGS. “kWh Analytics has proven out a reliable claims process for the Solar Revenue Put, enabling cashflow certainty.”

“We are pleased to have incorporated the Solar Revenue Put to support a second financing for IGS,” says Scott Hancock, Director in the Power & Renewables team at ING in New York. “The framework was established with the initial financing with the intention that it could be easily replicated for future financings with IGS.”

A recent survey by kWh Analytics of the solar industry’s most active lenders indicates that more than 50% of active lenders value the Solar Revenue Put as a credit enhancement. Solar portfolios ranging from thousands of residential rooftops to more than ten utility-scale plants have utilized financing structures supported by the Solar Revenue Put. Portfolios supported by the Solar Revenue Put are securing debt sizing increases of 10% on average.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

- Advertisment -

Most Popular

Apple data center in Denmark powered by 50 MW of solar

Apple has revealed that its data center in Viborg, Denmark, is now being powered by a 50 MW solar project under a long-term power...

Solar + storage experiment in Tampa Bay selected for Solar Energy Innovation Network project

An innovative solar + storage research project led by the Tampa Bay Regional Planning Council has been selected as a finalist for the Solar...

Chinese PV Industry Brief: 350 MW wind-solar project, 200 MW of floating PV

Longyuan Energy said this week that it has signed an agreement with the municipal authorities in Binzhou, Shandong province, to build 300 MW of solar...

IEEE creates education and credentialing program for interconnecting distributed resources to the grid

IEEE and the IEEE Standards Association (IEEE SA) announced the IEEE Std 1547-2018 Distributed Energy Resources (DER) Interconnection Commissioning: Education and Credentialing Program, a new...