Jigar Shah, advisor to the company and Former CEO and Founder of SunEdison said “SCS’ ability to asses and rate projects makes them the Good Housekeeping Seal of Approval for renewable energy projects."
Campbell, California (PRWEB) June 26, 2012
SCS Renewables, a leading solar finance brokerage, announced today the release of its innovative online brokerage platform for project investors and banks. The platform is the first of its kind to use key investor criteria to drive the solar development and financing process.
In answer to the industry’s highly fragmented and inefficient market, the platform is designed to increase the sectors’ dismal closure rates and expand the pool of capital available to finance commercial and utility scale solar projects.
Transitioning out of stealth mode, the SCS brokering and scoring platform currently boasts available funding sources in excess of $2 billion via its current finance partners, as well as 298 Megawatts of solar projects actively seeking finance through its established network of project development entities.
“In the PV industry the ultimate customer is the bank.” said Haresh Patel CEO of SCS Renewables. “Project development processes lack standards and are currently decoupled from the investor’s criteria, which results in huge inefficiencies, adds variable cost to solar projects, and slows overall market growth. The SCS finance platform solves these problems and promises savings over time of $0.10-$0.30/watt due to lower transaction costs and improved market efficiencies.”
The SCS platform is targeted to become the global hub for solar energy project funding, enabling high quality deal origination for financial institutions while providing financial certainty for project developers. SCS’ departure from the status quo development and financing trends using the platform’s streamlined process, standard documentation and project scoring methodology directly tackles the lack of standards and stubbornly high transaction costs currently hindering project viability.
Jigar Shah, advisor to the company and Former CEO and Founder of SunEdison said “SCS’ ability to asses and rate projects makes them the Good Housekeeping Seal of Approval for renewable energy projects. The service they offer through their platform is a key prerequisite for the financial industry for syndication and securitization. Tools like this will help accelerate deployment of capital and attract new players.”
The cost savings achieved are a result of SCS Renewables’ ability to increase the number of quality projects available while decreasing time wasted evaluating unattractive projects. By adding transparency and standards to the process, SCS’ platform opens the door to new investor types and new capital markets reducing the cost of project finance via increased competition. The holistic long-term effect is to further drive industry scale and momentum towards grid parity.
About SCS Renewables
Transitioning out of stealth mode, the SCS' brokering and scoring platform currently boasts available funding sources in excess of $2 billion via its current finance partners, as well as 298 Megawatts of solar projects actively seeking finance through its established network of project development entities. Since 2007, SCS Renewables has built a track record by enabling more than $150 Million worth of solar project investments and partner transactions. For more information or to sign up for a trial visit http://www.SCSRenewables.com
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