We provide lender-ready capital raise packaging and debt or equity placement support for business owners and buyers looking to secure serious term sheets and close funding on a defined timeline.
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Renewable Energy | Project Finance | Capital Structuring
Financing renewable energy projects is central to the energy transition. Capital structure is not an academic detail. It decides whether the project reaches completion and whether it can survive stress after COD.
As global power systems decarbonise, the market needs repeatable structures for solar, wind, storage, biogas, and grid infrastructure. Developers, investors, and policymakers tend to agree on the goal. The friction is execution: contracts, risk allocation, and bankability.
Renewable projects are financed on predictable cash flows. Those cash flows are only predictable when the project has a credible contract stack, an executable schedule, and clear risk allocation. Before selecting debt, equity, or hybrids, the project must have a financeable foundation.
Debt is usually the cheapest source of capital on a weighted basis, but it is also the most disciplined. Lenders price risk and enforce controls. In renewables, debt commonly shows up as project finance term loans, construction facilities that convert to term, and debt facilities secured by project assets and cash flows.
Project finance debt is underwritten against projected CFADS and lender coverage metrics. In many cases it is non-recourse or limited recourse, meaning the lender relies primarily on the project, not the sponsor. This makes documentation and controls a central part of the credit.
Typical lender focus: DSCR sizing, construction completion risk, contracted revenue quality, curtailment and basis risk, O&M reliability, reserve accounts, and step-in rights.
Many projects use a construction facility that converts at COD into a term loan. In some markets you will also see mini-perm structures, where debt is sized conservatively and expected to refinance once the asset has an operating track record.
Equity absorbs first loss. It also unlocks bank debt because lenders want a credible equity base, especially for construction risk. In renewables, equity can come from the sponsor, infrastructure funds, strategic investors, utilities, or specialist structures that price specific risks.
Sponsor equity usually funds early development costs, deposits, and pre-construction spend. It signals commitment and reduces execution risk. For many projects, sponsor equity remains meaningful even after debt closes because lenders want alignment and downside buffer.
Infrastructure funds and strategics generally want stable contracted cash flows, well-structured governance, and clear exit options. Their return targets vary by market, but they tend to pay for certainty, not hope.
In some jurisdictions, tax credits or tax attributes shape capital structure. The United States is a clear example, where tax-oriented equity participation can materially improve project economics when structured correctly. The key point for developers is practical: your capital stack is jurisdiction-sensitive. A structure that works in one country may be inefficient or unfinanceable in another.
Pure debt and pure equity are clean concepts. Real projects often need hybrid layers to bridge timing gaps, absorb risk, or reduce cost of capital. Hybrids sit between senior debt and common equity, either contractually or economically.
| Instrument | How It Is Used In Renewables |
|---|---|
| Mezzanine Debt | Fills leverage gaps when senior lenders cap proceeds. Higher pricing, tighter intercreditor terms, often cash sweep aligned. |
| Preferred Equity | Provides capital with priority distributions and structural protections. Used when sponsors want to limit dilution. |
| Holdco Debt | Debt at the holding company supported by equity cash flows from the project. Useful for portfolio owners and platforms. |
| Bridge Financing | Short-term capital to reach milestones such as notice to proceed, COD, or refinancing, often secured by contracted proceeds. |
| Vendor And Equipment Facilities | Structured procurement financing, sometimes with deferred payment terms supported by warranties and delivery milestones. |
| Green Bonds And Private Notes | Used for operating assets or portfolios with stable cash flows and reporting capability. Works best at scale. |
“Best” is not universal. The correct structure depends on where the project sits on the risk curve and what the revenue profile looks like. The market prices construction risk, revenue risk, and counterparty risk. Your capital stack is the mechanical translation of that risk into terms.
Developer truth: If you cannot explain your downside case and your covenant headroom in two minutes, you are not ready for lender conversations. Your model might look fine. Lenders will still decline if the risk story is unclear.
Many projects fail to reach financial close because uncertainty is priced too high. Clear grid rules, predictable permitting, transparent support mechanisms, and enforceable offtake standards do not guarantee financing, but they reduce risk premia across the market.
If the objective is more capacity built faster, policy can help by lowering avoidable execution risk rather than subsidising poor structures.
Financely supports renewable project capital structuring and lender-grade packaging. We work on the practical parts that drive bankability: contract stack logic, risk allocation, diligence planning, lender-ready presentation, and controlled decisioning through term sheet outcomes.
If you want to see how our process is run, review How It Works. If you want to request indicative terms or a packaging mandate, use Request A Quote.
Share your project stage, technology, jurisdiction, and revenue plan. We will revert with a document checklist and a proposed capital stack approach aligned to lender expectations and investor risk appetite.
Not always. Many deals are limited recourse during construction with completion support and then move toward non-recourse economics once the project is operating. The exact recourse profile depends on the contract stack and sponsor strength.
Sometimes. Smaller assets often finance better in portfolios, through warehouse facilities, or via lenders that specialise in small ticket renewables. Scale improves pricing and reduces friction because diligence costs become a smaller percentage of the transaction.
Merchant exposure can be financed, but leverage is typically lower and structures require stronger hedging, more equity, or hybrid layers. Lenders will focus on downside cash flows, not base-case price assumptions.
This page is for general information only and does not constitute legal, tax, investment, or regulatory advice. Financely is not a bank, not a broker-dealer, and not a direct lender. Any engagement and any introduction process is subject to diligence, KYB, KYC, AML, sanctions screening, and definitive documentation.
Financely advises growth-focused businesses on accessing capital by introducing their opportunities to professional investors. Financely is not a securities broker or dealer. Where appropriate, engagements are coordinated with regulated broker-dealers, investment banks, legal counsel, and other specialists.
Financely does not solicit, offer, or accept orders to buy or sell securities and makes no assurance regarding capital-raising outcomes.
Services are strictly business-to-business. Financely does not provide personal finance, consumer credit, or retail advisory services.
Advisory services are reserved for post-revenue companies that recognize the time and resources required for professional underwriting.
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All mandates start with an RFQ. We review submissions, issue a brief Go/No-Go memo, and where bankable, release a Term Sheet that leads to funding. We arrange capital across Senior Secured, Unitranche, Second Lien/Mezzanine, Preferred Equity, and Gap Solutions. We do not process deals by email or chat.
Letters of Credit, Standby LCs, Confirmations, Receivables Finance, and Inventory Lines with control.
Funding arranged for trade flows with instruments sized to your cycle and aligned to delivery and settlement.
Move forward to secure working capital and keep goods moving. Submit the RFQ to start underwriting for funding.
Limited or non-recourse structures for energy and infrastructure with lender-ready materials.
Funding solutions aligned to project cash flows with credible covenants and conditions to reach notice to proceed.
Advance the file to termable status. Submit the RFQ so we can underwrite and secure funding.
Debt and Preferred solutions anchored on cash flow, Quality of Earnings, and clear closing mechanics.
Funding across senior, unitranche, and preferred to match stable cash flows and acquisition timelines.
Get financed on workable terms for closing. Submit the RFQ to start underwriting.
Acquisition, development, bridge, and refinance with lender-ready packs and third-party reports managed.
Funding calibrated to DSCR, leverage, and tenancy with terms designed to close.
Move to a financeable package. Submit the RFQ to initiate underwriting for funding.
KYC and Source of Funds required. Engagements are best-efforts and subject to underwriting. Preference for operating companies with meaningful revenue. See our FAQ and Procedure.
Financely Inc. (“Financely”) provides corporate-finance advice and is wholly owned by Aurora Bay Trust, a trust formed under Bahamian law, together with its authorized affiliates. Depending on deal structure, jurisdiction, and local rules, engagements may be carried out through Financely Group LLC, a non-deposit-taking, non-banking financial company; Ashford Capital Advisory LLC; or another related entity.
Financely and its affiliates are not registered as securities broker-dealers and do not execute securities transactions or hold client funds or securities. When a mandate involves the purchase or sale of securities and a registered intermediary is required, any orders are introduced to and executed by one or more independent U.S. broker-dealers registered with the SEC and FINRA. Those broker-dealers are solely responsible for trade execution, custody, and related regulatory obligations. Nothing in this material constitutes an offer, solicitation, or recommendation to buy or sell any security or to engage in any specific transaction. Before engaging Financely Group LLC, Ashford Capital Advisory LLC, or any affiliate, you are responsible for confirming that such engagement complies with your own legal, regulatory, tax, and other requirements. In the United States, certain advisory activities may be conducted in reliance on exemptions available under the Investment Advisers Act of 1940, including the “foreign private adviser” exemption where applicable. Our services and regulatory status may vary by jurisdiction and by transaction type.
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