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Birch Tree Capital      
Practice Areas Strategic Equity Investors  

  shim   Strategic Equity Investors
  shim   Institutional Investors
  shim   Developers
  shim   Lenders
  shim   Communities and Non-Profits


    Client Focus:


AEGON USA Realty Advisors

Serving as principal equity advisor to a subsidiary of a leading global life insurance company in its acquisition of tax-oriented equity interests in wind and other renewable projects. Since December 2004, Birch Tree Capital has advised AEGON in investing in four wind projects aggregating almost 290MW. The Birch Tree Capital advisory team has advised on investment terms and negotiations, the due diligence process, and in asset management oversight. One transaction was the largest syndicated non-recourse bank financing for a wind power project in North America and received Project Finance International magazine's North American Portfolio Finance Deal of the Year 2005 award.

Read a Case Study about our work with AEGON USA (PDF)>>
   


Strategic investors invest at various stages in the development of renewable power projects. They need to understand the underlying risks and potential rewards of investing at each stage and which stage meets their risk profile.

Project investment opportunities have proliferated. Developers specialize in specific energy technologies, e.g., wind, solar, or biomass. Towns and cities facing budget constraints seek private sector capital to finance public-private project partnerships. Investors need to consider risks that vary with the project size, technology, off-takers, locations, and financial structure.

Investors can profit by creating a coherent investment strategy and by understanding the needs and goals of developers. Birch Tree Capital can help investors sort through the opportunities:

  • Design and implement investment strategies to streamline the search for suitable market segments, developer partners, and projects.
  • Identify individual investment prospects meeting an investor’s criteria.
  • Conduct initial “fatal-flaw” reviews of investment prospects.
  • Review financial models of specific project investments.
  • Negotiate equity letters of intent and definitive documentation.
  • Facilitate and/or oversee detailed due diligence reviews of specific projects.
  • Identify and coordinate other transaction advisors, e.g., legal counsel, independent engineers, insurance experts, tax valuators.
  • Review purchase agreement and documentation to ensure consistency with the goals of the developer and needs of the equity.
  • Identify and assist in securing additional equity, construction, and/or term debt financing to round out the financial plan.

 


 
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