SolRiver Capital (http://solrivercapital.com), a Colorado based solar investment fund, announced the launch of its free PPA Rate Finder tool for solar developers. Developers enter a desired purchase price for their solar project into the Rate Finder. Then it tells them the PPA rate needed to get that price.
SOLAR FINANCING MODEL – FINDS PPA RATE FOR NEW PROJECTS
“Solar developers often ask us what PPA price per kilowatt hour they need to hit a certain funding amount for their project. The Rate Finder is a tool that gives them that number,” said Brandon Conard, Managing Partner of SolRiver Capital. To use the Rate Finder, developers provide basic information about a project. The inputs include basic system specs, a few operating costs, and any project incentives. From there, the Rate Finder combines the developer’s assumptions and desired purchase price with SolRiver’s financial model. The Rate Finder then displays the power purchase agreement rate needed for the developer to get their desired purchase price from SolRiver.
DESIGNED FOR DEVELOPERS AND INSTALLERS RESPONDING TO SOLAR RFP’S
The Rate Finder is free to use. SolRiver hopes that having no-cost access to its financial model helps developers confidently bid on clean energy RFP’s or negotiate PPA rates with off-takers. “We know that coming up with a PPA rate for a bid is a critical and sometimes stressful process. The Rate Finder is a simple way for developers to easily estimate what PPA rates allow them to achieve their goals,” explained Conard.
MORE DEVELOPER FINANCE TOOLS
Conard sees the Rate Finder as a natural stepping stone in SolRiver’s effort to provide high quality tools for developers. “We’ve always liked to be as transparent as possible when we hear these sorts of questions. We started by setting out clear guidelines for our due diligence checklist with clients. Our next move was to provide real time indicative pricing for projects with PPA’s already in place via our First Pass Pricing tool. The step we’ve taken today is designed to help developers and installers even earlier in the process. It gives access to the solar project investor’s perspective before the PPA is even signed. We created the Rate Finder to make it easier for developers to independently estimate the right PPA rate from the beginning and use that information to their advantage.”
For more information on the Rate Finder and the Developer Platform, visit solrivercapital.com/solar-developer-platform/.
ABOUT SOLRIVER CAPITAL
SolRiver Capital (http://solrivercapital.com) is a turnkey solar investment fund, focused on financing large commercial, government, and utility scale projects. We offer installers and developers the full investment capital stack, including tax equity, on a turnkey basis. Our Online Solar Funding Process gives partners direct access to our investment models and transaction agreements to streamline deal closing. Our team has over a decade of experience developing and managing 400MM of solar totaling 180MW of capacity from 300 projects.