MODEL BUILD FOR THE
US RENEWABLES INDUSTRY
Our models are used by developers, banks, advisors, private equity funds, and utilities looking
to develop, acquire, and sell utility scale and distributed generation renewable energy projects.
Development and M&A for solar and wind is risky enough. Why leave money on the table by negotiating off a financial model you can't trust? By using a combination of modelling best practice and the FAST Standard, our modelling teams can help you quickly, efficiently, and accurately ascertain the right PPA price, or the appropriate value for an asset or portfolio.
Because our models are customized, you can be sure the results will align with your team's goals.
Because our models are modular, you can be sure the price is right.
How can we help?
We've worked on portfolio valuations with over 40 assets and hundreds of MWs; we've also built models for community solar and small-scale rooftop projects under 10MW. We can help your team move fast and be flexible.
We've worked directly with some of the largest providers of tax equity on some of the biggest projects in the world. Our models can help you price investments in projects like the big banks do, with full understanding of how they view all the relevant tax attributes.
Our team has also worked with large private equity sponsors on biofuels, waste-to-energy, anaerobic digestion, and plasma gasification projects and portfolios. Our models help make the science straightforward so you can focus on negotiating the right deal.
Want to find out more?
Contact Neil Booth to discuss your requirements and find out how we can help.
Neil has 15+ years of experience in infrastructure, investment banking, and project finance. Formerly Head of Renewable Energy for a major advisory firm, he has extensive knowledge of the private equity sector including transportation, solar, wind, biomass, and thermal project financings.
Call Neil on +1 (646) 483.1735 or send an email.
Companies we've worked with:
Standard Solar and Energir are partners in the deployment of solar photovoltaic systems for a wide variety of customers, including corporates, utilities, governments, and institutions of higher education. They originally joined forces in 2017 with a plan to develop 100 megawatts of solar projects. By 2020, it was clear they’d accomplished much more than they’d ever anticipated.
In the summer of 2020, the companies needed to report the financial results of their successful partnership to their external auditors. But with the auditor’s deadline looming, it became clear they
needed some way to get their arms around the specifics of their large (and growing) portfolio of projects, and quickly. Standard Solar and Energir reached out to F1F9 to help with the modeling of their large operational and development portfolios. They needed a rigorously quantitative approach that didn’t overly complicate what would already be a sizeable model rebuilding exercise.
Using a two-dimensional modeling technique, F1F9 was able to aggregate and present cash flows in easy-to-digest output tabs for both management and the auditors to sensitize quickly and efficiently.
“Managing expectations for both our management team and the auditors meant we needed maximal flexibility all the time,” said Jonathan Arcand, Principal Advisor at Energir. “F1F9’s modeling team gave us everything we needed to get everyone comfortable with how the process was playing out. We were able to sensitize pretty much every input to our model and view the resulting changes in cash flow and NPV in real time.”
F1F9 created space for over 40 asset categories to be evaluated along both operational and development asset types. At the conclusion of the audit, Standard Solar and Energir plan to use the resulting model to power their ongoing corporate reporting efforts.
Standard Solar’s CFO Dan Dobbs was a key part of the model build and reporting exercises. “The team at F1F9 made it really easy to drop in new assets on the fly. We’ll definitely be using this model to streamline our ongoing development and financing efforts,”
F1F9’s modeling team gave us everything we needed to get everyone comfortable with how the process was playing out. We were able to sensitize pretty much every input to our model and view the resulting changes in cash flow and NPV in real time.
Principal Advisor, Energir
Roma Solar, LLC is a developer of utility scale solar photovoltaic systems in Puerto Rico. The Island’s residential electricity costs rate 50% higher on average than mainland United States costs. Development of solar energy projects helps reduce those costs considerably, while strengthening Puerto Rico’s grid by increasing resilience and reducing dependence on expensive petroleum products, the delivery of which can be affected by the storm seasons.
Roma Solar is one of several teams seeking to develop projects for Puerto Rico Electric Power Authority’s renewable energy generation. These renewable energy plants will support the Island’s long-term goal to go 100% renewable by 2050.
Roma Solar needed to approach investors to secure financing for the development of two sizeable projects. Therefore, its team reached out to F1F9 to help build a model that accurately described the benefits and risks associated with its projects’ cash flows. The model needed to demonstrate flexibility and transparency to potential investors. “F1F9 allowed us to sensitize all the inputs in our projects models and view the resulting impact on the financial statements in real time. This was extremely helpful in providing confidence to investors that we could deliver solid projects,” said Emma Cancio, Roma’s Executive Director.
F1F9 started by talking with the company team about how the projects were to be developed. The team at F1F9 spent a good deal of time learning how these would be constructed and operated, understood local interconnection issues, and how they might impact financing, while providing a sounding board on finance terms, like discount rates and debt terms.
The model constructed with the F1F9 and Roma Solar team needed to withstand scrutiny from a wide array of investors. “F1F9 was there with us to help utilize the model in response to questions from our investors. They made the modelling simple so we could focus on marketing and developing the projects. Using the model our team built together, we were able to secure several sources of financing and move forward with the best one,” Cancio said.
F1F9 allowed us to sensitize all the inputs in our projects models and view the resulting impact on the financial statements in real time. This was extremely helpful in providing confidence to investors that we could deliver solid projects.
Executive Director, Roma Solar