HomeDecentralized EnergyCogeneration CHPProject financing tool launched for solar and CHP

Project financing tool launched for solar and CHP

A newly launched online tool is designed to assist commercial solar or combined heat and power (CHP) developers in their search for project financing, the company behind it says.

The Developer Growth Engine from US-based renewable solutions provider Empower Energies is a web-based platform featuring multiple tools.

The company says the platform features a project pricing tool designed to estimate pricing for power purchase agreements (PPAs) or Energy Service Agreements (ESAs). It also features a tool for sourcing development capital and construction financing, through which developers can potentially ‘fund up to 100% of their project costs’ according to Empower Energies. à‚ à‚ 

‘Financing is one of the ࢀ¦ developer’s greatest challenges, whether they need the development capital to take a project to NTP, the construction finance to get that project to COD or, ultimately, someone to buy the project,’ said Michael Wright, Empower Energies’ executive vice-president of strategic marketing. With the product, he said ‘developers get direct access to all of these forms of finance, as well as a quick understanding of the competitive terms of their project pricing.’

‘More than ever, commercial customers are viewing energy as a resource they can control, and for which they have choices. This has opened up many new opportunities for developers. We see the Developer Growth Engine as a key tool, enabling them to favourably compete in this changing energy landscape, said Len Jornlin, the firm’s CEO.