kWh Analytics has shaped a partnership with Pivot Energy LLC to supply its Photo voltaic Income Put manufacturing insurance coverage for a number of distributed photo voltaic tasks totaling 70 MW throughout six states.
kWh Analytics says the Photo voltaic Income Put was added post-financial-close to enhance leverage from lenders Silicon Valley Financial institution, Cadence Financial institution and Financial institution United.
Everest is the principle service for the manufacturing protection.
“Our partnership kWh Analytics might be a game-changer for our portfolio of neighborhood photo voltaic property,” says Bret Labadie, CFO of Pivot Power. “This insurance coverage product reduces the danger of the portfolio, which allows stronger mission returns and in the end permits us to extra successfully finance extra clear vitality tasks sooner or later.”
The Photo voltaic Income Put is a credit score enhancement product designed to assist buyers enhance leverage by mitigating photo voltaic manufacturing danger. Though the financing closed in April 2022, the post-financing addition of the Photo voltaic Income Put for an prolonged 20-year time period has enabled Pivot Power to extend the mortgage dimension, serving to to cowl elevated prices that may in any other case be coated by fairness.
The Pivot Power portfolio offered the kWh Analytics crew with a brand new problem: every of the 36 websites had a special configuration, a special monitoring system and completely different related dangers. Using the biggest database of working photo voltaic property, the crew assessed the danger on the particular person mission stage in addition to a diversified portfolio to underwrite the coverage, discovering one of the best worth for the consumer and in the end permitting for debt optimization for Pivot Power.
