Safari Energy expands its options to fund, acquire, own, operate solar projects

Safari energy

Safari Energy is launching a new flexible financial solution for solar developers and installers. Through the acquisition of solar projects, Safari Energy partners with solar developers to provide funding for solar assets from early stage development through Commercial Operation Date (COD). Safari Energy is also offering to subsequently own, operate and maintain the solar projects that the company acquires throughout the duration of their power purchase agreements with the solar project off-takers.

“With more than a decade of experience closing sophisticated solar project deals, Safari Energy has developed a nuanced understanding of the asset class and we’re very excited to deploy our expertise to continue advancing the solar industry,” said Matt Rudey, Chief Executive Officer, Safari Energy. “We’re uniquely positioned with our expertise in solar development and project finance to offer low-cost solutions with a streamlined and expedited deal closing process.”

Since the start of 2019, Safari Energy, a wholly owned subsidiary of PPL Corporation, has completed 19 solar project acquisitions across the country, with dozens more expected to close by the end of the year.

Safari Energy has developed an industry-leading platform for rapidly and efficiently completing due diligence, structuring financing, and operating and maintaining distributed generation assets. Based in New York City, the team of more than 75 seasoned professionals gives Safari Energy the unique ability to transact efficiently with interdisciplinary expertise across M&A, project finance, risk, operations and legal.

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The new initiative is being led by John Nordeman, Co-Founder of Safari Energy, who started the company with Rudey in 2008. Nordeman’s extensive financial experience has driven the company’s growth and success in delivering a portfolio of hundreds of projects with the nation’s leading public and private real estate owners.

Safari Energy recently welcomed Ola Olaniyi as Managing Director, Asset Acquisition to oversee the strategic development of the business. Joining Safari after nearly two decades in financial services, including leading solar acquisition and investment teams at Triox Capital, SunEdison and Temasek Holdings, Olaniyi has been instrumental in successfully getting the offering off the ground in areas ranging from origination and development to contracting and closing.

Safari Energy will continue to build on its existing commercial and industrial solar development business, with hundreds of projects spanning from Massachusetts to Hawaii. Since 2008, more than 206,000 metric tons of carbon emissions have been offset by Safari Energy systems, driving energy savings and impressive financial returns for clients.

— Solar Builder magazine

[source: https://solarbuildermag.com/news/safari-energy-expands-its-options-to-fund-acquire-own-operate-solar-projects/]

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