Solar production in the renewable energy market continues to drive a wedge between the cost of fossil fuel energy and the lower cost of renewable energy. As tax incentives whether federal or state continue to drive growth in the industry, BAS is establishing itself in the marketplace through a portfolio company in providing streamlined private credit to middle market solar developers.
Through one of BAS’s portfolio companies, SunRocket Capital, LLC (“SunRocket”) offers one-stop financing of construction loans and flexible mortgage loans for small to mid-sized solar project developers underserved in the market today. By financing solar like real estate, SunRocket is able to offer long-term, fixed rate debt that matches the operational life of an asset and at a lower cost of capital. SunRocket’s financing provides developers with higher LTVs and allows developers to take their projects beyond sale at Notice-to-Proceed by providing all the capital necessary to construct the project and take it to Commercial Operation Date and maintain project ownership through the full asset life.
