Developers

By partnering with a variety of developers, VALTA has resources readily available to match every need. We offer multiple services to ensure your project is successful and online quickly. If you need development help or simply project financing, we offer affordable and reliable assistance. Our years of experience with project development, construction management financing, legal and tax structuring, underwriting, and operations minimizes your project risk and increases your profitability. We share our expertise in solar services with integrity and accountability.

VALTA not only originates, acquires, and develops clean energy projects, but also finances, constructs and owns clean energy projects in the commercial, industrial, small-utility and community solar sectors.

Valta Energy customizes each customer engagement by matching our quality services and experience with your needs and project requirements. We can provide the guidance and support necessary to let your team take the development lead, or we can take an active development and customer-facing role. We can work with you during the introductory process with a potential customer or at the end, simply providing take-out financing.

We structure projects so the risk is reduced, and profits are increased for all stakeholders – the owner, the developer and the PPA counterparty. We demonstrate flexibility, transparency and a quick to respond approach. This provides you with a “best in class” financing structure that enables us to successfully finance projects that others cannot.

Full Capital Stack – Takeout Financing
VALTA offers developers the full capital stack needed to fund solar projects. We offer both construction equity and takeout capital. We use a flexible approach, tailoring investments to our partner’s objectives.

We Provide the Full Capital Stack
VALTA acquires projects from our developer/installer partner at Pre-Notice to Proceed or at Notice to Proceed. We are able fully monetizes the investment tax credit and other tax benefits. Upon acquisition, our purchase price is paid out in a series of milestone payments. Our financing covers the EPC Costs, any construction loan fees, and the rest is kept by you as a “Developer Fee.”

VALTA Provides Development Capital
We know early stage solar development can get expensive. That’s why VALTA invests development capital in early-stage solar projects (Pre-NTP) that have a clear path to success.

What Is Solar Development Capital?
Solar Development Capital is a term referring to the capital invested in a solar project before the project has achieved full NTP status, for use on things like paying site lease options, interconnection deposits, permit fees, and equipment deposits.

Below we discuss (1) our Pre-NTP investment criteria for solar developers, (2) examples of early-stage solar development expenses we finance, and (3) how VALTA structures solar project financing.

Criteria for Early-Stage Solar Project Development Funding
To qualify for development capital, a project needs to have a clear path to NTP. In short, we can invest solar development capital when a project reaches the limited notice to proceed (LNTP) phase. We can provide full solar project financing or construction financing once the project reaches full NTP.

 “Notice to Proceed (NTP) Project Financing” means the project typically has:

  1. A Power Purchase Agreement (PPA) or Energy Service Agreement (ESA) is in place.
  2. If applicable, a REC Purchase Agreement and other rebate awards have been finalized.
  3. A fully executed Solar Site Lease or Solar Site Lease Option Agreement in place.
  4. An Interconnection Agreement or permission to interconnect from the local utility.
  5. The Conditional Use Permit, along with ancillary permits, tentatively approved by the local permitting authority.
  6. The Site has clean title, meaning all easements to the solar array have been addressed.

Limited Notice to Proceed
Limited Notice to Proceed requires a strong indication that a solar energy revenue contract will be executed. For example: An off-taker has begun negotiating a PPA, the project was shortlisted in an RFP, or a Feed-In-Tariff program (or equivalent) is available.

The local utility completed a preliminary impact study. Full Interconnect approval and cost estimates are not required.

Site Control is in place, with at least a Lease Option or Easement. A clean title is not required at this point. In addition to the items above, other outstanding issues we can accept at the LNTP

Project Financing stage are:

  • CUP or other permits in progress.
  • EPC and O&M providers not yet finalized.
  • Technical issues such as system configuration, equipment selection, are still in flux.

How to Determine if Your Solar Project is Ready for Early Stage Development Capital?
If you are unsure whether your project has reached LNTP, or not, simply enter into a Mutual Non-Disclosure Agreement with us and send your project to our team to review. Our team will quickly analyze the information you provide us and ask for any additional materials necessary for project evaluation. We’ll then let you know what type of Solar Project Investment we can offer.