Solar PPA funding needed for commercial DG projects

Troy Helming Tue, 2010-08-10 15:40

Troy Helming · Tue, 08/10/2010 - 14:40

Business

Business Overview: 

We perform extensive 39-step due diligence to make sure all projects have a minimum 25% IRR (20-year after tax leveraged) and are "financeable" by our lenders and tax equity investors. We need equity investors to complete the missing link in the funding of these projects.

Project Location: 
Irvine, CA, 92677
United States
What are your future milestones, and how much capital will you need to achieve each of the milestones outlined?: 

Obtain $20 Million of equity for project finance, to complete $100 Million of solar DG PPAs we already have signed.

What is your total and operating cash burn (the amount you're spending) per month? : 

$10,000

How many future rounds of financing do you project? : 

One (1)

Services Desired: 
Accounting
Legal-Corporate
Legal-Intellectual Property
Engineering
Capital Broker/Dealer
Who is the Customer?: 

Commercial end users of electricity (and heat, in the case of solar thermal systems with a BTU meter) who sign a 20 or 25-year contract to buy power or energy from us: businesses, schools, churches, government entities.

What is the Customer Pain that you are solving?: 

Rising & volatile energy prices.

Names of any current or recent customers: 

Cool Planet Productions, Sprint Corporation, Olathe Public School system, Walter Newman, Carlson Consulting Services, KC Biofuels, Johnson County Government, Walter Newman (WW2 war hero, home in Presidio Heights CA in San Francisco), Grace Kao, Shirley Wong, Larry Lanteiri, etc.

What is the Target Market?: 

20 kW to 3 MW on site solar systems in commercial applications.

How big is the Target Market in terms of Annual Sales?: 
> $50B
Sales/Marketing Strategy: 

We are utilizing the best from a network sales team of 2,500 independent energy consultants nationwide that we built with our previous company.

Provide use cases : 

We've built and funded in-house several small solar PPA and wind PPA systems, each saving the customer about 20%+ on their electric bills.

Competition: 

Solar City, Solar Power Partners, Recurrent, Sun Edison, Sunpower.

One-line Pitch: 

We have over $30 Million of signed PPAs for on site solar rooftop projects, and need additional funding to keep up with demand.

Business Model: 

Solar & wind PPA owner/operator.

Product/Services Overview (what does it do): 

We save our host customers / property owners money on their utility bills by offered our trademarked Embedded Energy System(tm) where we own & operate the solar or wind energy equipment and sell the energy on 20-year contracts.

Technology

What makes the technology/business unique and have a defendable competitive advantage?: 

We are focused on smaller project sizes (<500 kW) and in markets with strong solar rebates outside of CA & NJ where there is little to no competition.

Describe in detail the technology used in the Project - Address the innovation in significant detail : 

Technology neutral on PV (open to best LCOE, installed cost, warranty strength, etc.)

What are the principles of the technology? : 

Proven c Si PV technology is preferred.

What, if anything, has been proven (and how far is this from a commercial scale)? : 

Proven for 50+ years.

What challenges/risk does the technology face for commercialization?: 

None (already commercialized)

Team

NameTitle
Troy HelmingOther
Joshua CrookerOther
Alysia CarlsonOther
Chuck VrabelDIRECTOR
Gavin CarmichaelDIRECTOR
James Stalker
James Carter
Mark Hagen
Current Investors: 
Troy Helming

Financials

Amount Sought: 
$5,000,000
If raising funds, what shall the funds be used for?: 

100% for project finance equity. We have tax equity investors and lenders in place, only seeking project buyers / project equity.

Pre-Money Valuation: 
$5,000,000
Funding Received to Date: 
$250,000
Amount invested by Founders: 
$250,000
Funding Stage: 
Early/Seed
Funding History: 
Funding Round Funding TypeFunding dateFunding Source/ InvestorsAmountPre-Money valuation
Seed/BootstrapEquityApr 2009Founders2500000
Internal Rate of Return (IRR): 
29%

Comments

I have a company that can do this for you however, they will want the pv install work with their panels.

 

Ronjf1@gmail.com

Wed, 10/26/2011 - 10:49

Have you been able to secure funding for this project?If not, I may be able to assist in making that happen.  Please contact me to discuss.

 

JJ

 

jj@commercialenergysolutions.com

Mon, 01/23/2012 - 14:36