New online tool provides access to financing and other development resources for commercial and industrial distributed generation projects
FREDERICK, MD – March 22, 2016 – Empower Energies ("Empower" or the "Company"), a leading Clean Energy Portfolio Solutions company, today announced the launch of the Developer Growth Engine™, an online tool suite for renewable energy developers seeking project financing for commercial Solar of Combined Heat and Power (CHP) projects. This web-based platform features a Project Pricing Tool that developers can use to quickly establish indicative pricing for Power Purchase Agreements (PPAs) or Energy Service Agreements (ESAs), as well as a simplified pathway for sourcing development capital, construction financing, “take-out” capital, and back-office services.
“Financing is one of the commercial solar 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, Executive Vice President, Strategic Marketing for Empower Energies. “With the Developer Growth Engine, 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.”
Understanding whether or not a solar project will “pencil” – in other words, be financially rewarding to the customer and the investor – is something developers need to understand very early on in a project-engagement cycle. With the mobile-friendly Project Pricing Tool, developers enter basic information about the customer opportunity and receive indicative pricing the same business day. For developers who need a faster response, the Company provides a help number that offers direct access to a team that can provide pricing in real time.
By using the Developer Growth Engine, Developers may present a fast, compelling renewable energy value-proposition that is a win-win for all involved. Customers realize savings sooner, as projects can get off-the-ground even more quickly. Developers benefit from sustained project involvement over the long-term with options of choices left up to them.
The Developer Growth Engine also offers a streamlined path for developers to procure construction finance to fund up to 100% of their project costs. Even development capital, the most-difficult financing to acquire, is available through the portal.
Traditional commercial banks may not be the ideal financing partner for a developer’s business model, because they are not developers themselves. Empower Energies, with its strong background in development, understands a developer’s operational requirements intuitively, and can provide financing more attuned to the needs on the ground and the known interests of local developers.
“We are committed to the success of our developer partners. From the structure of our solutions to the tools we provide, we strive to demonstrate value at every interaction,” said Len Jornlin, Chief Executive Officer of Empower Energies. “It’s this value we understand first-hand. Most of our management team has been innovating in the renewable energy industry, and partnering with developers, for over 20 years. So we’ve learned what works and what doesn’t. Making things simple and profitable for customers, developers, and investors alike is the hallmark of success.”
About Empower Energies
Empower Energies, Inc., with offices in Frederick, Maryland and Troy, Michigan, is a clean energy portfolio solutions provider focused on applying the right mix of Combined Heat and Power (CHP), Solar and Energy Optimization Solutions – with financing – to meet the profitability, resiliency and sustainability objectives of municipalities, universities, schools, and hospitals, as well as multi-facility commercial and industrial organizations, such as General Motors, both in the United States and internationally. More information about Empower Energies can be found at http://www.empowerenergies.com.
Ms. Tara Condon
Vice President, Marketing and Corporate Communication
50 Citizen’s Way, Suite 403
Frederick, MD 21701 USA
Office: 248 490-4200 x2161