AEC understands the dynamics in the Demand Response and back-up genset markets - Leon Watts, Principal, IES
New York, NY (PRWEB) March 26, 2015
Advanced Energy Capital, LLC (“AEC”), an energy finance company led by Jack Doueck and Richard Rudy, has announced today that they have signed an agreement with Innovative Energy Strategies to provide funding for up to $25,000,000 of CHP and genset installation projects in commercial, healthcare, institutional and industrial buildings – with a focus on the Demand Response markets in the Northeast.
AEC, among other things, provides exclusive origination and structuring of energy efficiency, CHP and energy storage deals for Greenbacker Capital, manager of the Greenbacker Renewable Energy Company.
“Given AEC’s footprint in the energy efficiency arena and Greenbacker Renewable Energy’s $1.5 billion raise for green energy finance, we are optimistic that this can be the first of many deals to come,” said Marty Borruso, Principal at IES.
“AEC understands the current dynamics in the Demand Response and back-up genset markets making them uniquely situated to assist us in rolling out are business plan,” echoed Leon Watts and Matt Brokaw, Principals at IES. “Our plan is to address the immediate needs in New York while focusing on a handful of other markets in the area” added Jim McKenna, also of IES.
The first group of transactions – CHP and back-up generator equipment in commercial and healthcare facilities – are expected to close in the 2nd Quarter of this year with the bulk of the projects expected to be closed later in 2015. IES’ approach features little or no outlay on the part of customers, while providing them with mission-critical back-up power and/or cost savings and revenue streams.
"AEC has inked a handful of deals in the space and continues to screen a wide range of energy opportunities. We enthusiastically welcome IES as a focused and innovative player in the energy efficiency space. We’re looking forward to an outstanding long-term relationship with their team." said Rick Rudy, principal of AEC.
“The combination of IES’ engineering expertise, deep experience and project development, knowledge and AEC’s credit and finance expertise should help make a huge impact on carbon reduction," said Jack Doueck of AEC.
About Greenbacker Renewable Energy Company:
Greenbacker Renewable Energy Company is a publicly registered, non-traded Limited Liability Company that expects to acquire a diversified portfolio of income-producing renewable energy power plants, energy efficiency projects and other sustainable investments.
This press release contains forward-looking statements within the meaning of the federal securities laws. Forward-looking statements are not guarantees of future performance and involve known and unknown risks, uncertainties and other factors that may cause the actual results to differ materially from those anticipated at the time the forward-looking statements are made. Although Greenbacker believes the expectations reflected in such forward-looking statements are based upon reasonable assumptions, it can give no assurance that the expectations will be attained or that any deviation will not be material. Greenbacker undertakes no obligation to update any forward-looking statement contained herein to conform to actual results or changes in Greenbacker's expectations.
About Advanced Energy Capital:
Advanced Energy Capital (“AEC”) is a specialty finance firm that provides affordable and innovative financing solutions to Energy Efficiency, Energy Storage, Renewable Energy and Retail Energy developers, contractors and customers. AEC’s financing is characterized by flexibility, entertaining counterparties below ‘investment grade’, terms beyond 5 years, structures beyond just leases and deal-size ranging between $50,000 and $10 million. AEC’s finance clients have tapped into both senior as well as junior tranches of capital to jump-start their growth. AEC has developed simple end-user turnkey financing solutions that enable developers and contractors to dramatically increase their revenues by offering customers embedded (even private label) financing without up-front payments.
IES is an energy services firm, focusing in the on-site generation markets for Combined Heat and Power systems as well as Demand Response and energy efficiency. The IES team collectively has decades of experience in CHP, generation, design, construction, and project management. IES installs, owns, operates, and maintain systems primarily in the <10MW range in NY and NJ.
For more information contact Matt Brokaw, Principal – Innovative Energy Strategies, Email: matt(at)ienergystrategies(dot)com