ET Solar Energy Corp. has been providing solutions to the solar industry since 2005, when it first started producing solar panels. Today, ET Solar still manufactures panels, but it also provides project design, development, construction, and operations & maintenance.
ET Solar is now also going to provide financing. Today it announced the establishment of its U.S.-based subsidiary ET Capital Inc., a company engaged in providing turnkey solar energy financing solutions worldwide. Altus Power Management, along with others, has gone a similar route by launching a financing program for energy projects. Getting financing can still be a major hurdle that projects must overcome, which ET Capital is hoping to help fill.
Having acquired financing for multiple large-scale solar projects, ET Solar seems to be well positioned to branch out into providing financing itself. ET Capital will deliver a broad range of financing solutions for corporations, institutions, utilities, municipalities, and nonprofits, but will be focusing on 5 MW+ projects. It is being led by a core team of thought leaders with many years of experience in the renewable and financial sectors.
“The ability to provide an end-to-end financing platform solidifies ET Capital as a viable strategic partner for developers, investors and power purchasers that allows for an increase in solar transactions with lower closing costs. This financing platform will set the stage for multilateral partnerships and allow for high-efficiency business growth,” Mr. Dennis She, President and CEO of ET Solar, said. “The core focus of the platform will be for those types of portfolios above 5 MW in size with power purchase agreements. We look forward to providing best in class services and solutions to the solar market and helping to evolve the industry, while creating a sustainable future.”