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Pre Qualify – Submit Online Development Funding Analysis Form | Request Online Proposal – Wind Energy Project Funding
Funding available for financing wind energy projects and developments is fairly straight forward and takes a common sense approach to closing. 100% loan to cost / value is available for qualified developments. For many years, sponsors of fossil fuel-based systems in North America have employed traditional methods to fund, but this approach has been less accessible to developers of renewable energy developments. Fortunately, as banks, insurance companies and other financial institutions are becoming more familiar with the technologies, regulatory, legislative, tax incentives and transaction structures. This type of development now receives advantageous capitalization. With positive trends in the cost and reliability of technology and the recent transition of the industry to one dominated by larger participants with proven track records and institutional relationships, the available financial options are expanding at an ever increasing rate.
Capitalization of large projects to leverage resources with little or no use of existing corporate credit or cash is possible in today’s lending and investing climate. In many cases, these projects qualify for our 100% program. Usually the assets and cash flows are separated out from the development’s principals and independently underwritten by the lending sources. Credit appraisals and lending decisions are based on the inherent economics of the plan as opposed to the credit standing or balance sheet of any group or individual developer. Power purchasers must have a BBB+ rating and be willing to provide long term agreements.
The most attractive projects for funding financing of wind renewable energy projects are “shovel ready” or close to it. That means permits in place or close, land secured, PPAs (Power Purchase Agreements) in negotiation, EPC and O&M companies with BBB+ credit ratings available. We have EPC and O&M that meet the criteria available if necessary. We don’t provide “seed money” to get a project started. That would be more for a venture capitalist or joint venture partner. An executive summary outlining these items plus financials and resumes should be available upon request. You may submit your farm development for lender funding analysis and pre approval quote online. The process typically involves the developer, off taking utility, construction contractor (EPC); warranty, operations and maintenance provider (O&M), typically the supplier of the equipment; and the lenders. Additional participants will include attorneys (of course), independent engineers and consultants engaged by the lenders to assist in evaluating many different aspects of the transaction.
*One of the first steps for the lenders is to review and analyze an in-depth executive summary of the developer’s business plan, proforma and / or feasibility study. They may even hire a consultant to conduct an independent feasibility study if necessary. These studies will reveal the areas wind energy resource data and will demonstrate the total financing viability of the project. These studies will detail technical, funding and other aspects of the development and are critical to the lending source in its risk evaluation of the proposed plan. The loan usually will be secured by assets, power purchase contracts, including a mortgage on the facilities and real property in some but not all cases. Assignment of operating revenues; liens on all personal property; and assignment of all agreements and permits, including any letters of credit or performance bonds to which the borrower is the beneficiary may be required in some cases but not all.
I n some circumstances , in preparation for project financing for funding wind energy developments, developers approach landowners in target areas to arrange long term leases or co venture opportunities. Interest in these opportunities is often due to outside incentives such as tax and other financial inducements. Since each opportunity is influenced by local municipal policies, regulations and permit requirements, we can provided assistance in the process of obtaining financing for funding wind energy development projects. Over the last two decades, steady growth has been experienced within this and most other alternative power sources. Explosive growth is expected to continue in the United States, Canada as well as internationally perpetually into the future. With the ever increasing number of credible developers coming from entrepreneurial as well as corporate backgrounds, quality developments will prosper. EF123 has well-established relationships with the lending community. With the improving credit position of many of the utility off takers along with the ever increasingly favorable regulatory and tax treatment more developments can be predicted.
Back in the day, the early 1980′s, when the first commercially scaled operations were installed, they generated electricity at costs as much as 30 cents per kilowatt-hour. Due to current state-of-the-art technology at excellently suited sites, they are now generating electricity at less than 5 cents/kWh. Costs continue to decline as more, larger and better technologies are installed. Advancing technology is coming to market at an amazing rate.
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