Energy & Power
Increased capital for Blackstone Energy Solutions for solar PV rooftop projects
By Alyssa Dalton
May 30, 2012 – Blackstone Energy Solutions has announced an expanded feature set to its non-recourse debt facility for rooftop solar photovoltaic (PV) projects in Ontario. The expanded features intend to address the needs of the marketplace, namely, challenges faced by existing contract holders in getting projects built due to funding issues and/or building integrity issues, said the company.
“We have had great success in helping existing FIT [Feed-in Tariff] ontract holders implement their projects; our non-recourse debt combined with an 18 year term, fixed interest rate and quick credit approval process has proven to be an attractive offering in the marketplace,” said Curtis Chandler, director, Blackstone Energy Solutions. “However, we have come across many individuals, companies and developers who have FIT projects in hand that cannot be completed due to a combination of financial and building issues.
By expanding our offering, we feel we can help the marketplace implement projects that may otherwise not get built,” he continued,
Blackstone’s services are designed to accommodate rooftop projects greater than 100kW. Blackstone will work with individuals or companies that have FIT contracts in hand looking for a turnkey installation and financing solution.
“We have structured our business model and our financing options to accommodate those who want to own their projects (end users) as well as the developer community looking to joint venture,” he said. “We encourage FIT contract holders to contact us for details on how we can help. We are confident that these additional elements to our offering make our funding facility a very attractive and lucrative option.”
Blackstone Energy Solutions has offices in Toronto, Ont., and Calgary, Alta., and warehousing and distribution services in Markham, Ont.