Solar Energy Asset Management, Development and Financing

 Our mission is to make the solar asset space more efficient and transparent.  Less friction means better values for investors and consumers. 

The World - Infrastructure Assets in Transition

On the left... capital seeking yield

Banks, insurance companies, pensions, hi-net worth investors

On the right... projects seeking to sell (in various markets)

All projects "post-recapture" seeking to monetize their long-term contracts.

In the middle... intermediation (JJR)

JJR provides pricing information, liquidity, asset management and other services to each sector.

All the sectors get "optimized"

Buyers and sellers get better prices,  assets operate more efficiently. 

Large Addressable Market

1. There are over 60,000 MW of operating solar today.

2. The "mid-market" comprises approximately one third - 20,000 MW

3. Each MW, from a cash flow perspective - is valued at roughly $2 million ($2.00/W)

4. Therefore, the addressable, mid-market is $40 billion.

5. The market is expected to continue to grow.


Recent Asset Sales + Transactions

AZ 5.3

5.3 MW

2013 In-service

Located in Arizona

Investment grade offtake

Under contract in lower 7's

PES 13

13 MW Operating, California Portfolio

10 Projects total

Refinanced by SEller due to tax liability gain-on-sale

AH TC 45

Previously owned by listed corp

Offered mid-2018

45 MW, $100 million

Traded $2.60/W (close QI 2019)


NPS 7.8 MW

California (Palm Springs) Operating Assets

So Cal Edison PPAs

2012 in -service

Single-axis trackers

Traded late 2017

Needed capital improvement

Trade at $.95/, 21% IRR unlevered

PFMG CA

14 California Schools Projects

45 MW

In-service 2011 - 2014

NRG Tax equity

Offered mid-2018

Disposition unknown

  


JJR ECOSYSTEM

Each quadrant lives inherently with the other.

Our experience in energy markets, assets and financing over the past 23 years have given us relationships, insights and humility.  



Asset Management

Currently managing assets in Massachusetts and Minnesota.  Experience in CO, NM, NC, CT, NJ, MA, MN, Iowa, WI.  

Finance

Debt, equity, advisory.  Over 25 years financing energy assets in the US, including financing power contracts, power assets, construction companies and acquisitions. Active as a principal and advisor. 

Development

Experience in asset financing/development and energy markets since 1995, multiple fuels, including coal, nat gas, LFG, solar.  Focus since 2009 on solar.

Preferred Transactions

Investment-grade development and operating assets in the US. 

Representative Transactions

2009 - Colorado roof/ground

2010 - 35 project non-profit build (NJ)

2011 - 2012 - New Mexico/No. Carolina (10 MW) advisory, 1603 grants

2013 MN Acquisition 226 kW, 5 schools

2014 - Connecticut builds

2015 - MN, Iowa, Wisc.  builds

2016 - Massachusetts 800 kW, 600 kW complete

2018 - (Client) corporate restructuring 

(MN), solar manufacturer (complete)

CT - 700 kW sold, 1000 kW pending


Market Focus - 2019

Capital Fund Development - USA 


Equity - $25-$50M

Debt - $50M 


 

What is "Solar Run-off"?

Projects at least five years old

Significant Contractual Value

15-25 years remaining on life-of-project and contracts

Opportunity to monetize the contracts

Cash bid, quick close

JJR Power

Excelsior, MN 55331

(952) 715-3082