financing for clean energy entrepreneurs to succeed in this fast-paced industry, entrepreneurs and...
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Financing for Clean Energy Entrepreneurs
To succeed in this fast-paced industry, entrepreneurs and project developers need access to financing. This panel will focus on creative financing models that can create win-win solutions within the current regulatory landscape.Moderator: Alec Guettel, Co-founder, SungevityPanelists Doug Beebe, VP of Energy Finance, Key Equipment FinanceEric Cohen, Senior Commercial Relationship Manager, Fifth Third BankMelissa Malkin-Weber, Green Initiatives Manager, Self-Help Credit UnionDavid Scoglio, Chief Financial Officer, Strata Solar
UNC Friday CenterRedbud Auditorium
Alec Guettel
Co-founderSungevity
Key Equipment FinanceEnergy Finance
Overview
NC Clean Tech SummitDoug Beebe
Vice President, Energy Finance
Clean Energy Finance Trends• Clean energy is financed in many creative ways
• Traditional companies are doing it – no longer a fringe business
• Renewables are more economical than ever
• Shift from environmentalists to business people
• Clean energy is growing rapidly and needs your help!• Get involved!• We need more people like you working in clean energy!
• Traditional bank succeeding in a non-traditional space
• Started in 1858 in Cleveland/ Publicly traded on NYSE: KEY
• Top 20 Bank: Among nation’s largest, well-capitalized
• $92.9 Billion in Assets
• Expertise in customized energy lease transactions
• Key Equipment Finance (KEF) is a subsidiary of Key Bank, based in Superior, CO (near Boulder, CO)
Key Bank
Key Energy Practice
• $1 Billion + energy portfolio
• 80 + wind and solar finance transactions
• Financing energy assets since the 1990’s
• Leasing and Project Finance
• KEF markets the energy lease product
Key Equipment Finance profile• Key Bank’s Leasing Business• $9.1 billion in assets • $4.3 billion of originations • 540 employees globally• Market specialization:
– Energy
– Key Government Finance– Information Technology– Healthcare– Specialty Vehicles– Corporate Aviation– Other verticals coming soon!
• www.keyequipmentfinance.com
Classification - 8
Community Bank
CorporateBank
Loans*Leases*Treasury ManagementDeposits
Local Market Knowledge*InvestmentsPrivate BankingRetail Banking
Industry Expertise*Financial AdvisoryCapital Markets*Investment Banking
Products and services
*Creates Synergies with Key Equipment Finance
KEF leasing capabilities• Alternative to PPA financing• Incentives belong to the lessee/ end user• 100% Financing• Direct, full-recourse leases and loans
– Capital lease / Non-tax lease – Operating lease / Tax lease
• Tax structure expertise• Can offer caps for FMV purchase options
– Synthetic Lease • Hybrid of Capital and Operating Leases
– Loans• 7 – 10-year terms • Transaction size: $250,000+, no maximum • Construction financing• Syndication to broaden tax and risk appetite
Classification - 9
PPA and Lease Comparison
Classification - 10
PPA/ ESA Operating Lease
Capital Lease / Loan
Low-cost funding
Quick and efficient underwriting process
Customer takes tax benefits
Investor takes tax benefits
PBI / SREC / FIT direct to customer
PBI / SREC / FIT direct to investor
Bundled approach/ undisclosed costs
System ownership with customer
Permitted / Feasible in all 50 U.S. States
Reduced/ Streamlined documentation
Doug Beebe
VP of Energy FinanceKey Equipment Finance
Eric Cohen
Senior Commercial Relationship ManagerFifth Third Bank
Melissa Malkin-Weber
Green Initiatives ManagerSelf-Help Credit Union
David Scoglio
Chief Financial OfficerStrata Solar
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