TaxEquity.com has been launched with the aim of addressing barriers to financing commercial and industrial solar projects, which is notoriously challenging and cumbersome due to the high variability in each project, the intricacies of tax code, deal structure and the interests of debt providers. For these reasons, financing projects often require a considerable amount of due diligence, which in turn drives up costs and slows down the evaluation process. Most professional tax equity investors won’t, therefore, work with developers with projects or portfolios less than 3 megawatts in size.
“The goal with TaxEquity.com is to allow more capital to flow to more renewable energy projects” said Foss Renewable Energy Partners Managing Director Alex Tiller. “We can achieve this by standardising the way we interface with developers and evaluate their projects. Additionally, we will work with debt providers to generate standardised and preapproved documents that a developer can choose to use, which leads to a streamlined evaluation process. Combining the two previous steps with algorithm driven analyses, we hope to cut the time to terms sheet down to hours, rather than days.”
Mr Tiller added that in the near future, Foss Renewable Energy Partners would like to find a way to fund projects as small as 100 kilowatts in size.
For additional information:
