Two basic options for renewables project funding:
- For expedited project financing of $25 million or more, at any stage of readiness, consider our Completion Assurance Program™ (CAP funding). Visit the following links to understand how to qualify for these indicative terms by satisfying these requirements. There are many advantages with only one challenge, for most developers: arranging a Completion Assurance (financial) Guarantee during construction.
- Or, if your project’s RAIN score is above 95%, and is entirely ready to turn dirt with no remaining risks or steps, and at least 15% unlevered IRR, then share your overall RAIN scores with us by registering your project here. Your RAIN score will appear on the RAIN results screen. Be sure to register and/or send the report to us; then we can discuss how your project may be qualified for funding with or without CAP.
For well-qualified projects that require faster service, we still recommend In3’s Capital Guarantee Program (CAP). Why? It’s just “faster, easier, better” than traditional project finance.
Without CAP, we will ask you to download and use our Renewables Project Finance Worksheet (pay particular attention to items 18-27, the Project Status section) in addition to your RAIN scores, and include this worksheet when requesting funding. This is required when not using a financial guarantee instrument, as traditional investors are extremely careful about the status of any remaining pre- and post-construction details, make doubly sure the developer and hired contractors will perform. Even with completion/performance bonds (insurance), the exact status of the project’s readiness, and any remaining risks, are maker/breaker factors scrutinized during due diligence.
This level of scrutiny goes away with CAP funding (streamlined due diligence), as do these four notorious mid-market project finance problems.
Not seeking project finance at all? Go here. What’s the difference?
For funding through CAP, we specialize in funding renewables projects that score below 90 due to either of the following:
- All available “dry powder” has already been invested in getting the project to the current state. No additional developer/owner-side capital (so-called “unexpended” funds) remains, thus seeking 100% financing. And/or …
- Project not yet shovel-ready. Current state of the project is not quite ready to “turn dirt” — further pre-construction development steps (whether or not they are significant expenditures) are necessary.
- Need to expedite funding to begin pre-construction (if any) and construction work ASAP. We reach closing in 30 days or less upon receipt of a suitable Capital Guarantee, preceded by an RWA letter from a rated commercial bank. more
Ordinarily, project financiers (including us, prior to 2018) would have to carefully evaluate your project across at least 25 criteria to determine financeability. With or without your RAIN scores in hand (using just 9 heuristics or “rules of thumb”) we can finance any new construction or expansion projects above US$25 million via our in-house capital partners using our Completion Assurance [Guarantee] Program (CAP), typically with no up-front fees, faster, using streamlined due diligence, and at highly competitive rates. Ready to move forward?
But if your project does not qualify for CAP (option 2, above), then make sure your project does not require A or B, above (or both) — 100% financing and/or further development before construction can begin. If it does require either of these, but is not qualified for CAP, plan to hire us to assist with those remaining development steps and give up significant equity and/or pay fees-for-service value delivered.
If you are okay with that, then we will match your “bankable” project to our network of capital sources by asset class, geography, industry sector and size under a Management Service Agreement. More at New Client Orientation
About Renewables Project Finance | Pre-Qualify | Funding Process | Success Tips for Project Finance
Frequently Asked Questions (FAQ) on How We Work | CAP Funding FAQ | Renewables Events | Join Elist | Contact Us
