Thinking of buying a large solar farm — without taking on construction financing and risks? Innovative Solar Systems, LLC (ISS) has a solution. ISS has constructed a number of utility-scale solar plants in recent times, and currently has plans to bring hundreds more MWs online in 2015. It should come as no surprise, then, that the company has been coming up with ways for investors to more easily purchase these farms.
Its newest program allows investors to go through a pre-qualification process and then place a simple, non-binding letter of intent to purchase these solar farms at a predetermined price, at or before commissioning time.
ISS claims that institutional-size investors, hedge funds, and capital wealth groups have long wanted to add large groups of $100 million+ solar farm assets to their portfolios. However, few have wanted to assume construction financing and the risks associated with building large-scale solar energy power plants.
ISS has now found a financial partner that makes this possible, and thus opens up purchasing of these large solar plants to groups that would normally not be comfortable buying solar farms at shovel-ready state. ISS has some of the largest plants in North Carolina currently planned. It currently has multiple projects approved in the state, with 80 MW solar farms being its largest.
ISS states that large capital groups have been calling for years wanting to purchase the company’s large projects, but most of those large capital wealth groups and funds wanted ISS to finance everything and agree to sell at COD at a fixed price. This had not been an option in the past due to large upfront capital outlays, but this newly introduced program now makes it a reality.
“These mega scale solar farm projects require that a developer move rapidly to construction once approvals are obtained for many reasons, and having your financial partner ready to fund these projects makes the process quite easy,” states John Green, CEO of ISS.