Principal Solar, a publicly traded solar energy holding company, says it has the resources and intent to purchase and finance multiple solar projects. As the key piece in its strategy to build a large-scale, geographically distributed solar utility, Principal Solar is aggressively looking to buy operating projects and finance shovel-ready projects.
The company says it has a unique value proposition as a long-term, owner/operator partner, which complements developers — instead of not merely a short-term investor.
It feels as if can deliver the full capital stack, not simply the debt or equity component of the financing structure, and its deep power industry experience and intent to partner with developers on future projects.
“We want the solar community to know that we can be its one-stop shop and a repeat business partner if they’ve got shovel-ready or operating projects,” says Michael Martin, executive vice president of business development for Principal Solar. “Typically, the builder from whom we purchase projects will have the opportunity to also own a piece of Principal Solar. We’re building something different—a publicly traded, pure-play solar utility.”
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