Our services.
CSA represents developers and EPCs in seeking financing for their projects and portfolios. We help raise sponsor equity, tax equity and debt for project financing. In many cases our developers are interested in acquisition financing where an investor buys a project or portfolio.
Tax Equity
For the developer seeking tax equity, we work with over 35 banks and insurance companies. For the investor with a significant tax appetite, we help find the right project or portfolio.
Debt
CSA has relationships with all of the renewable energy lending institutions who are active in the market, and we can help developers secure working capital as well as long term financing for their projects.
Acquisition
CSA works with over 100 active investors to help find the right partner for developers and EPCs who want to sell projects or portfolios of renewable energy assets.
We track the market
Tracking the dynamic market of renewable energy investors and knowing which ones have the lowest cost of capital and the best appetite for a particular portfolio is what we specialize in bringing to our clients. Additionally, negotiating terms and aiding in streamlining the closing processes tends to reduce buyer and seller friction, which can also assist in a long term relationship between the parties.
Our process.
The way our services work is we run an invitation process to motivated investors based on the characteristics of the portfolio for sale. Some of the key indicators that determine the proper match are size, location, offtaker, technology, stage, etc. We begin with a large pool of investors and through the process of reviewing an executive summary, financial model and basic due diligence, reduce the number of investors to a short-list of highly interested buyers. Through this competitive process we are able to determine who has the highest level of interest based on responses and finally, the best financial offer.
Once we have an investor selected and the basic terms established, we assist with closing the sale of the asset.
In every project and portfolio we have sold we can ensure the highest value was obtained. In many cases we have evidence of where a developer or EPC had a strike price or where they had an offer from an existing financial partner and on average we exceed those offers by 10% to 15%.
TRANSACTION SHOWCASE
20MW Portfolio
We assisted a client with an operating portfolio of solar assets allowing them to recapitalize for new development deals. The client set a goal of $1.25/W and we were able to achieve an acquisition price of $1.35/W. The investor relationship is now providing additional value to the developer as they continue to work together on new development projects.
30MW Portfolio
We represented a client in New York State and they had an offer from an existing investment partner for their 30MW portfolio. They were going to sign the offer at $1.54/W. They asked to use our service to find them a buyer through our competitive process and we were able to get 4 competing offers within 30 days and they closed at a price of $1.72/W which increased their sale price and value of the portfolio by $5.4 million.
100MW Portfolio
Another client ran their own process to sell a 100MW portfolio. They spent a lot of time, effort and resources vetting buyers and taking offers. At the end of their process they asked us to verify the bids and they were below where we saw the value in the market. We recommended they allow us to add two additional bidders to their list and were quickly able to close within weeks with a term sheet 10% higher than any offer in their pool of bids.