Crayhill Renewables, an affiliate company of Crayhill Capital Management, has partnered with Exelon Power Services, also an affiliate company of Exelon Generation Company, in a joint platform that would provide financial and operational services to renewable energy projects.
Both companies announced the partnership this Tuesday for a comprehensive lifecycle management program, designed to support renewable energy projects by offering end-to-end financing and operational services.
This platform will provide the renewable energy industry with a unique combination of developer and financial services; such as pre-Notice to Proceed (“pre-NTP”) lending, transmission, and development advisory. In particular, Crayhill Renewables will provide take-out equity, while Exelon Power will provide post-Commercial Operations Date operating solutions.
The platform intends to provide customers and developers with a true integrated solution for financing and generation management. Companies intend to simplify the path between early-stage development and project operations.
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Crayhill Renewables and Exelon Power to accelerate energy transition
Indeed, the platform leverages Crayhill Renewable’s flexible capital products and Exelon Power Services’ capabilities in plant operations, energy management and other areas of support. Developers will, in turn, have a tool to accelerate projects, also accelerating the energy transition.
Glen Robinson, Vice President of Exelon Power Services, said about the project. “It is designed to provide our customers with a full range of services to enable them to quickly bring renewable projects to market. Our combined ability to offer capital, marketing, and operations expertise can de-risk projects through their entire life cycle.”
Erick Bauman, Managing Director of Crayhill Renewables, added. “We’re excited to partner with Exelon Power Services and bring to market these much-needed solutions for our project development partners. Crayhill and its principals have invested over $1 billion in pre-NTP assets.”
Finally, he also remarked. “Now, our development partners can leverage the collective resources, knowledge, and analytics of Crayhill and Exelon to scale their businesses rapidly to meet the growing demand for renewable energy across the United States.”