Broadlands brings solar expertise to India
Broadlands Financial Group will be exhibiting at the upcoming Solar PowerGen India and Central Asia on April 21-23 in Mumbai. After providing critical owner’s representation and project controls for Acciona on the Spanish conglomerate’s 65 megawatt Nevada Solar One Project, Broadlands was selected by Entegra to represent Entegra through the design and construction of Entegra’s Rajasthan Solar One, a 10 MW concentrated solar project that will include eight hours
of thermal storage to be built in Rajasthan, India.
“The national feed-in-tariff program has put India squarely on the renewable energy map,” said Ted Drauschak, Broadlands’ President. “Companies in India and around the world are designing and implemented strategies to take advantage of the opportunity in India. Broadlands just happens to be one of the few companies in the world with major concentrating solar, PV, wind and biomass expertise. There aren’t too many companies that can say that they have utility scale concentrating solar and PV experience, but Broadlands can,” Drauschak added.
As a result, real estate owners, developers and lenders are looking to Broadlands to design the roadmap to bring their Indian projects from concept to successful and profitable operation. “There is no question that owners and lenders want to know what we know,” Drauschak said. “We’ve worked to protect owners and lenders against the risks on CSP trough, CSP tower and PV projects. We have the experience and others want to take advantage of our knowledge. Broadlands’ move to the Indian marketplace is a logical progression for Broadlands and its clients.”
Risk-averse capital providers require proven, meaningful ways to contain construction risk and demanded transparency as part of the deal. Broadlands fills that need. Bryan Fortay, Broadlands’ Executive Vice President said, “investors and lenders want to see an experienced team. Unfortunately for owners looking to develop major solar projects, there are not that many companies in the world that bring any significant experience in representing the owner’s interests on utility scale solar projects. Broadlands does.”
“When an investor or lender sees a company like Broadlands as part of the owner’s team, a company with two decades of underwriting construction and development projects, a company that designed and executed loss control strategies on over $15 Billion of loss-free projects and a company that brings real solar experience to the project, that investor or lender is more likely to want to be involved in your project,” Fortay added.
Several Broadlands representatives will attend POWER-GEN India and Central Asia 2010. “We will meet with existing clients, government agencies, lenders, and large multi-national corporations capable of utilizing strong balance sheets to generate substantial internal rate of return via solar project development in India,” Drauschak said. “Come and see us at the conference.”