Colorado-based solar investment fund SolRiver Capital launched a free Solar Developer Platform — a tool meant to help solar developers locate funding to efficiently close investments with SolRiver. The platform offers online solar finance models to price investments and a guided approval process. It also has tools to help set up future projects, such as the PPA Rate Finder and Solar Finance Contract Library.
“We wanted to make it as easy and efficient as possible for developers and installers to close solar project investments with SolRiver,” said Brandon Conard, Managing Partner of SolRiver Capital. In particular, the Platform features the Project Optimizer and SolRiver’s Guided Evaluation Process to put projects on the fast track to financing.
SolRiver’s Project Optimizer provides developers direct access to SolRiver Capital’s financial model. Developers can fine tune over 110 different project parameters to understand exactly how SolRiver prices investments. The Optimizer allows developers to run scenarios, so they can see how a change to a project would affect the price SolRiver would offer. It even provides recommendations on how to change project terms to maximize what they get paid.
The Guided Solar Project Diligence Process tells developers from the beginning what SolRiver’s approval requires. “It lists the documents SolRiver asks for. It also explains what we’re looking for in each document,” Mr. Conard explained. “We want developers to know what they need to do from day one. We think the process goes a lot faster when everyone knows what’s around the next corner, and the reason why,” said Conard.
SolRiver’s Platform also gives solar installers and developers the tools needed to propose bankable projects with confidence, including the Rate Finder and the Contract Library.
PPA Rate Finder Calculator
Mr. Conard’s favorite tool is the PPA Rate Finder because “Developers frequently ask us what the PPA Rate needs to be in order to hit an EPC price of $X. The PPA Rate Finder gives them the model to answer that question.” To use the Rate Finder, developers enter basic information about a project along with a desired purchase price. From there, the Rate Finder combines the developer’s inputs with SolRiver’s financial model. The result is the PPA rate that SolRiver needs to see in order to pay the developer’s target purchase price.
Sample Solar Contracts
SolRiver has also built a Solar Contract Library. It has forms for many common solar agreements, including PPAs, O&M agreements, Site Leases, and EPC Agreements. SolRiver hopes these contracts will help developers put together deals that will flow smoothly through SolRiver’s investment approval process.
— Solar Builder magazine