Groendus
Venture background
- A Dutch startup developing solar PV installations for the non-residential market, based on an operational lease model
- Running business, with several MWp assets under management, just under cash flow break-even
- Financing of PV assets through structured finance arrangement
- Low risk business model as all operating cash flows are guaranteed from the start
- Ambition to scale-up assets under management to several 100 MWp, needing to professionalize and standardize operations
"RB Tenzing supported a project developer in solar PV installations to professionalize its business, ready for scale-up"
Tenzing support
- Performed market analysis and adjusted target customers and ambitions to fit with market potential
- Refined business model and identified key drivers key to guiding the roll-out strategy
- Built Investment memorandum and financial models and then supported raising of equity financing
- Standardized and detailed operations, to lower operating cost and make model scalable
- Supported partnering process with bank for agreeing on and standardizing project financing agreements
