Case studies
The following case studies showcase examples of deals we’ve worked on and feedback from our partners.
Industrial Manufacturer
“We keep coming back to Conductor because they keep delivering for our customers. With large industrial projects, competitive financing is a huge advantage. Conductor makes sure we get the best deal and our proposal to our customer is as competitive as possible every time.” - VP Sales & Development, Industrial Developer and EPC
Project profile
System size: 3.8 MWdc + BESS
Location: Massachusetts
Offtake: PPA
Customer: Manufacturer
Deal profile
Buyers matched: 5
Bid spread: 23%
Bids received in: 8 days
Conductor’s role
Conductor prequalified the project, calculated anticipated market pricing, identified high potential buyers, and ran a targeted competitive bidding process to find the best fit. We supported both parties in getting to LOI and in negotiating funding for LNTP budget items.
Background
The developer came to Conductor with a pipeline of 2 MW - 5 MW behind the meter projects on industrial facilities. As an experienced EPC, they had a strong track record of selling and building systems at this scale. But most of their customers had previously paid cash. We helped them align with an investor who could price aggressively and close efficiently on this and future projects. The developer has returned to Conductor with similar projects to ensure an efficient process and the best pricing for their customers on every deal.
Illinois Community Solar
“We hit the market pretty hard when selling a $100M+ community solar portfolio, and decided to try Conductor as a part of those efforts. The Conductor team ended up being incredibly efficient with our time by bringing in only a handful of extremely targeted buyers. We built trust quicker with parties through Conductor and ultimately selected a buyer from the Conductor platform.” - VP, Industrial Developer and EPC
Project profile
Portfolio size: 54 MWdc
# of sites: 12
Location: Illinois
Offtake: Community solar
Deal profile
Buyers matched: 3
Bid spread: 14%
Bids received in: 30 days
Conductor’s role
In this competitive scenario, we emphasized seller depth and quality to attract three tightly aligned buyers. We advised the seller on apples-to-apples comparisons across all their offers. We also helped them clarify their priorities in a partner for this transaction and establish reasonable expectations for the timeline and effort required in the due diligence process.
Background
The seller, an experienced solar EPC, came to us looking to sell a single project. After exploring their options, they decided to take this portfolio to market with Conductor. They had bought these projects with the intent of owning and operating them, but their limited tax liability favored selling the projects to an IPP instead. The company had strong experience building projects for developers and IPPs, but they had not sold a portfolio like this before. They relied on Conductor for for expectation setting, process management, and targeted introductions to aligned IPPs.
Diverse Project Pipeline
“Conductor has run sale processes for us with multiple MW across C&I and community solar and found us the right buyers for all of these projects and portfolios. Their deal expertise and extensive network across the middle market is very unique.” - Finance EVP, Diversified Project Developer
Project profiles
System sizes: 13 MWdc, 6 MWdc
# of sites: 2 , 1
Locations: Illinois, New Mexico
Customers: Community, PPA
Deal profiles
Buyers matched: 6, 5
Bid spreads: 11%, 51%
Bids received in: 17 days, 15 days
Conductor’s role
Conductor advised the developer on portfolio construction and anticipated pricing, identified high potential buyers, and ran multiple competitive bidding processes. We quickly surfaced the most promising acquisition partners for all of these projects. Only one prospective buyer was interested in both the C&I and community solar projects.
Background
The developer came to Conductor with a pipeline of projects spanning C&I and community solar. Each captured the interest of multiple experienced and well capitalized buyers. On the community solar portfolio, the developer chose to forego a lucrative state incentive program that would have delayed the project. This decision privileged IPPs with aligned priorities who were capable of pricing competitively without that additional project revenue.
Apartment Complex
“We’re usually a buyer, but sometimes we have to sell projects that no longer fit. Conductor lets us do this efficiently and discretely, focused on a targeted set of buyers with the right pricing.” - Project Development SVP, Renewable Energy IPP
Project profile
Portfolio size: 550 kWdc
Location: Arizona
Offtake: PPA
Customer: HOA
Deal profile
Buyers matched: 6
Bid spread: 28%
Bids received in: 7 days
Conductor’s role
Conductor prequalified the project, identified high potential buyers, and ran a targeted competitive bidding process to find the best fit. Our platform was used to accelerate the deal cycle and align parties for closing and execution on key project milestones.
Background
The developer came to Conductor seeking a long-term owner for this project with a tight turnaround between mechanical completion and PTO. As an experienced owner-operator, the developer had advanced this project nearly to completion, but with an option to sell. Two building sites were included under one offtake agreement with the HOA. With offtake already priced, interested investors bid on the project’s value.
Maine Community Solar
“Conductor helped us find multiple buyers offering hundreds of thousands of dollars more than we were expecting. We were already experienced sellers, but they opened our eyes to new possibilities for maximizing the value of our projects. Additionally, the team helped us clarify our vision about market volatility and create a selling strategy that would be fair for all parties.” - COO, Solar Project Developer
Project profile
System size: 1.4 MWdc
Location: Maine
Offtake: Community Solar
Deal profile
Buyers matched: 2
Bid spread: 8%
Bids received in: 3 days
Conductor’s role
Conductor advised the seller on the Maine community solar market, including the history of investor interest and the market dynamics at the time of sale. Conductor identified two parties able to transact on this deal, with the seller ultimately selecting one of them. Once negotiations were underway, Conductor advised the seller on where to push the conversation to quickly resolve key issues and expedite the transaction.
Background
This opportunity came to Conductor during the sale process, with an offer already in hand. The seller was a developer and EPC in the Northeast experienced at running sale processes with their existing network. They were seeking a better offer to maximize project value, and approached Conductor seeking access to our buyer network. As we explored the deal, it became clear that we could help with these introductions and provide insight into this market and targeted deal support.