Generate is a flexible, long-term balance-sheet partner focused on getting project developers what they need when they need it—including multiple types of equity and credit capital, as well as critical, strategic support spanning business development and customer acquisition, capital markets advisory, talent at executive or board levels, regulatory affairs and advocacy, and beyond. We help you get the best pricing and the fastest deals by facilitating growth and building framework agreements to make it efficient for you to transact, bank your development fees, grow, and do more projects. Our brand can help you get necessary credit terms, customer attention, and respect from regulators.
We are energized by solving difficult problems—from integrating multiple technologies to navigating multiple regulatory regimes or revenue types. We are energized by investing in smaller and emerging markets and supporting younger and nontraditional companies. We give customers and regulators confidence and peace of mind.
Cypress Creek Renewables (CCR) needed to find a buyer for its large community solar portfolio in a market where the rules were still being finalized. CCR couldn’t sell the portfolio because regulations were changing. The company needed a partner to support the development of the portfolio and the overall market while providing permanent capital solutions to buy the portfolio.
Generate provided the money and help to enable CCR to deploy more than 60 MW ($130 million) of community solar in the New York region in 2019. Generate took over the subscription risk (that is, finding the residential customers to subscribe to the portfolio) to help CCR focus on developing, and Generate evaluated battery solutions and supported regulatory affairs efforts to get projects constructed quickly.
Generate’s flexibility and willingness to take on perceived risks others simply would not consider helped CCR deploy large-solar projects in a tough market and ultimately resulted in connecting more than 6,000 households to 60 MW of clean community solar power. Generate is now replicating this model with CCR to build on its success.
Mortenson—one of the nation’s leading engineering, procurement, and construction firms—sought to increase participation in a local 28 MW community solar garden, including a 5 MW project designed to sell residential solar power to local residents. Unfortunately, as interconnection deadlines loomed, multiple potential financiers were unable to close financing in time due to the projects only having residential electricity subscribers. Encountering these and other hurdles, the project’s implementation stalled and timelines lengthened.
In early 2017, Generate provided the necessary project financing and completed the deal in just 45 days, allowing the project to meet its tight interconnection deadlines and finish on time.
The project, part of a network of community solar gardens in Minnesota that generate enough electricity to power 32,000 homes, represents the first exclusively residential community solar project in the country to qualify for traditional bank project financing.