Solar risk management firm kWh Analytics has closed a Swiss Re-funded Solar Revenue Put for a portfolio of 4,000 projects totalling roughly 32 MW DC of capacity.
This is the first publicly announced repeat closing with the Solar Revenue Put.
It is structured as an insurance policy on solar production and PPA revenues, which serves as a credit enhancement for financial investors.
Using its proprietary actuarial model and risk management software, kWh Analytics developed the Solar Revenue Put to drive down investment risk and encourage development of clean, low-cost solar energy.
“We have again found efficient and reliable execution with our partners, ING, and kWh Analytics. The Solar Revenue Put enables us to both enhance our returns and reduce our downside risk,” said Mike Gatt, Chief Operating Officer of Distributed Generation at IGS.
“kWh Analytics has proven out a reliable claims process for the Solar Revenue Put, enabling cashflow certainty.”
“We are pleased to have incorporated the Solar Revenue Put to support a second financing for IGS,” added Scott Hancock, Director in the Power & Renewables team at ING in New York.
“The framework was established with the initial financing with the intention that it could be easily replicated for future financings with IGS.”