Wulff, Hansen offers its government and non-profit clients a complete range of services in financing energy efficiency, water conservation, and renewable energy. These services go beyond traditional project financing and include assistance with project development and partner selection (see a Case Study of one such project here.) These projects can be integrated as a key part of an overall ‘Green Energy Master Plan,’ as part of a specific facility’s renewal and upgrade, or in conjunction with a utility cost reduction initiative. Such projects can be done in partnership with local schools to promote STEM (Science, Technology, Engineering, and Mathematics) education and can emphasize use of local contractors to support the local economy.
- Evaluation of emerging technologies including client education and analysis of industry trends
- Identification of solar, water and energy efficiency opportunities ranging from small projects (e.g, LED lighting retrofits) to heavy construction projects such as chiller and boiler replacement
- Selection of partner companies from the universe of full service ESCOs (Energy Service Companies) and smaller engineering firms or specialty contractors
- Negotiation of warranties and guarantees including analysis of financial strength and advice on savings verification protocols
- Negotiation and workouts on existing projects whose performance was less than planned
- Negotiation or renegotiation of Performance Contracts, Opportunity Assessment Reports, and Project Development Agreements
- Negotiation or renegotiation of Power Purchase Agreements (PPAs)
- Design and drafting of RFQ and RFPs for energy, water, and renewable procurement
Project Finance Services
- Support for analysis of utility rate increases and projection of utility rates (rate escalation)
- Review and analysis of project economics including verification of projected savings and validation of maintenance and operating costs
- Education, evaluation and selection of financing options including: Tax Exempt Lease-Purchase (TELP), Certificates of Participation (COP), General Obligation Bond (GO Bond), hybrid structures, Power Purchase Agreements (PPAs), Commodity Offtake Agreements (COAs). Past options also included New Clean Renewable Energy Bonds (NCREBs), Qualified Energy Conservation Bonds (QECBs) and Qualified Zone Academy Bonds (QZABs) which were terminated by the 2017 tax bill but may potentially become available again in the future.
- Development of financing RFPs for competitive sales and direct placements
- Financial structuring: collateral selection, revenue pledge versus general obligation
- Verification of compliance with existing financing covenants
- Negotiation and buyouts of Power Purchase Agreements (PPAs); workout of ‘above grid’ PPAs
- Advice on use of Proposition 39 funding for efficiency and renewable projects
- Savings verification of prior projects and guarantee review and analysis
- Strategies for successful Public-Private Partnerships (3P) projects
- Strategies for Implementation of Community Choice Aggregation (CCA)
- Formation of JPAs (Joint Powers Authority) for renewable projects
- Refinancing analysis and recommendations regarding existing project debt or lease
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