Services

Range Renewable Advisors offers a full suite of services to Renewable Energy Developers seeking development or financing support, Real Estate owners looking for help navigating renewable energy markets, and investors or lenders looking for help sourcing and underwriting new opportunities. Below are some overviews of our project experience to exemplify how we have helped real companies achieve their goals.

Case Studies

Range has highlighted select cases to provide a more tangible understanding of its services. Range customizes its services and partners with other consultants, advisors, and lawyers as needed to deliver comprehensive solutions that meet its client's needs.

Clean Energy Strategy for a Subsidiary of a Global REIT

Range advised a subsidiary of one of the top 5 global real estate managers to help develop and implement a renewable energy strategy for their owned properties as well as for third-party properties. Over a multi-year engagement, Range helped the client conduct site assessments, run site-level RFPs with leading developers, and conduct detailed analysis on the relative benefits of owning versus selling assets in given markets. Range also worked closely with the client to develop tools to assess the relative benefits of asset ownership versus asset sales. Range worked across over 10 different markets to help the client optimize their real estate portfolio to achieve their financial and ESG goals.

Site Assessment for Regional Property Owner

Range was engaged by a regional property owner with ~$250M of real estate assets under management, primarily across the northeast, to conduct site assessment for a variety of renewable energy technologies, including rooftop/ground-mounted solar, EV chargers, and energy efficiency. Range worked closely with the real estate owner to determine which of their sites were the best fit for each technology type, conducted economic modeling to determine economic potential benefits, and conducted an informal RFP with prospective contractors to receive proposals for the work. Range helped the client evalue proposals and select contractors to install the identified technologies.

Tax Equity Raise for a Utility Solar Project

Range was engaged by a developer of utility-scale solar to raise tax equity financing for a single asset. The developer’s project finance team was understaffed and was seeking outside help to close the transaction. Range assisted the company by building out a financing model, creating a marketing CIM, holding meetings with prospective investors, negotiating term sheets, coordinating due diligence, and assisting in the negotiation and execution of definitive documents. Throughout the process, Range served as an outsourced deal lead for the client, interfacing daily with the company’s internal personnel and interfacing directly with key external stakeholders.

Corporate Equity Raise for C&I Developer

Range was engaged by a leading developer of C&I and Community Solar to raise a new round of corporate equity to restructure their capital stack and provide key growth capital for the client’s expansion. Range worked closely with the client’s C-suite executive team to create and prepare a Corporate Model, an Investment Memorandum, and devise a key corporate strategy for the client to communicate to prospective investors. Subsequently, Range created a list of target investors for the company, provided introductions, and helped to facilitate management meetings with prospective investors. Range then assisted the company in term sheet negotiations, outside counsel selection, due diligence coordination, and definitive document negotiations to ensure a smooth closing process and a successful outcome for the client.

Market Analysis and Business Plan for a Residential Solar PPA Developer

Range was engaged by an OEM in the home battery power space to assist the company’s management team in developing a business plan and PPA product for a Residential PPA Development business unit. Range prepared a detailed market analysis and survey to educate the client on the recent trends and key insights about the industry, and conducted thorough financial and business analysis to forecast the viability, profitability, and scalability of the potential new business venture. Range then assisted the client in conducting meetings with key stakeholders to evaluate the findings and make a decision on the best strategic direction for the business.

Tax Equity Go-to-Market Strategy for a Multi-Family Housing Tax Credit Syndicator

Range was engaged as part of a broader team to advise a leading low-income multi-family housing tax credit syndicator on how to enter the market for clean energy tax credits. Range's client is a leader in affordable housing tax credit syndication, with ~$2B+ in annual tax credit syndication in the housing space. In Phase I, Range created a high-level overview of the current market for tax credit investments in U.S. solar and battery energy storage, evaluated the current financial structures and business arrangements in the tax credit financing space (including overviews of Partnership Flip and Lease-Pass Through structures, Transferability, and Direct Pay), and conducted an initial assessment of the addressable market and attainable market share that may be available to Enterprise. As part of Phase II, Range helped the customer build a robust business plan that will allow them to begin to finance clean energy tax credits directly and lay the groundwork for raising a dedicated clean energy fund.

Co-Development of a 25MW-ac Community Solar Portfolio

Range partnered with an early-stage developer focused on New York Community Solar projects to co-develop and sell their first 25MW-ac of solar projects. Range helped conduct economic modeling, advised on project development timeline/activities, marketed the projects to potential investors, and negotiated the definitive sale documents to the long-term owner-operator. Notably, Range assisted the developer in running an RFP for the projects, in which it was able to negotiate a 40% increase in the development fee by conducting a competitive asset sale process. Range structured the co-development agreement as a profit-share with the developer, which created aligned incentives for both Range and the developer.

Co-Development of a 9MW-dc Landfill Project

Range partnered with a veteran of the solar industry to help develop two solar projects totaling 9MW-dc on a municipal landfill under a Feed-in-Tariff program. The projects were eligible to receive the Brownfield adder under the IRA, increasing their ITC rate to 40%. Range helped to coordinate development activities, establish and manage the data room, market the project to investors, and negotiate a MIPA for the purchase and sale of the projects. Range also worked closely with the buyer on the project to bring competitive construction contracts to bear, including identifying over $1M+ in cost savings by finding a local concrete manufacturer that could produce the ballast-blocks for the site at around half the originally-quoted cost.