Renewable Energy Trust Capital, Inc. (RET) and SCS Renewables, Inc. say that RET has selected the MercatusTM cloud-based software platform for solar photovoltaic (PV) asset due diligence and acquisition starting in North America.Mercatus is a solar finance enterprise platform provided by SCS Renewables.
SCS says the Mercatus changes the status quo of project finance asset assessment by providing a faster and more automated process for evaluating and acquiring solar assets. Mercatus is the culmination of three years of research and development including the first of its kind proprietary scoring engine, which is derived from investment criterion and best development practices of more than 25 financing entities. Mercatus relies on standardization and patent pending methodologies to deliver a complete workflow solution for solar asset origination. The net result is an increase in asset targeting speed, more competitive deals won, higher returns and faster deployment of capital for solar investors.
Leveraging financial techniques successfully applied in real estate markets, such as REIT (Real Estate Investment Trust) structures, RET provides liquidity to solar PV generating assets in utility and in commercial/industrial (C&I) markets, targeting asset holders seeking U.S.-based, low-cost capital. By applying established public market structures to the solar PV market, RET establishes an evergreen financing solution for both assets holders and developers in North America.
Jon Norling, VP Acquisitions of RET said, “Adopting the Mercatus platform allows RET to quickly consider those solar assets that meet RET’s investment criteria while focusing on RET’s core mission to lower project financing cost for project owners. As a result, this will deliver cheaper electricity rates to consumers and better returns for developers.”
“RET’s innovative solar finance strategy is an excellent match for Mercatus. We are delighted to be able to help them continue to drive further towards their mission of lowering project finance costs,” said Haresh Patel, CEO of SCS Renewables. “Mercatus was designed to bring speed to the deal selection process allowing solar investors like RET to win the most attractive solar assets.”
*Check out our Solar Speaks Podcast with SCS Renewables to learn more about solar financing