Sol Systems launched a new financing platform that provides investors and developers with the tools they need to originate, evaluate, finance, and construct renewable energy projects.
The new platform, which SolMarket launched with over $350 million of committed partner funds, is actively seeking solar projects in need of financing.
"We are attempting to build the infrastructure to build an asset class that can be bundled, wrapped, securitized, and sold," said Yuri Horwitz, president and chief executive officer at Sol Systems.
The platform provides a standardized origination platform, a document library, modeling software, and a standardized document suite.
SolMarket will also offer developers group purchase discounts for solar modules and other equipment. There are no costs for developers to participate in SolMarket.
"We talk to hundreds of solar developers about prospective commercial and utility-scale projects, and unfortunately, many of these solar projects are never built due to an inability to efficiently locate financing," Horwitz said. "We have created SolMarket to help drive efficiencies into the solar market and connect investors and developers effectively. SolMarket will reduce the cost of financing transactions and enhance the tempo of solar project development."