Cash-flow backed financing
The team undertook an extensive fund-raising exercise for the client to support its growth objectives.
Context & Background
The client is the UAE subsidiary of one of Asia’s leading rooftop solar providers to commercial & industrial sector. The parent company has successfully installed 350+ projects for 250+ corporates, with a total solar operating capacity of 775+ MW. It pioneered the ‘Energy Sale’ model in rooftop solar in 2012. The client started operations just 3 years ago, has a total installed capacity of 14 MW, with projects under installation of over 40 MW.
Key Issues
Given the capital-intensive nature of the business, the client requires a consistent supply of capital to fund its future growth in the region. However, as the roof top solar is still a relatively nascent industry in the ME region, traditional bank financing is challenging to obtain.
Scope of Work Delivered
The team worked with the client to explore alternative sources of capital to fund the growth, while still maintaining active dialogue with leading banks to keep them updated with the developments in the C&L Roof top solar sector. Successful fund-raising exercise was completed by executing and implementing the following process:
- Conceptualisation of the transaction
- Engagement with the investors
- Negotiation of terms
- Support in due diligence
- Assistance till closure
Fieldfisher Capital Team Member’s Value Add
The Fieldfisher Capital team was able to analyse client’s fund requirements and put together a viable structure to raise those funds. The ability to focus on client’s business holistically and construct a solution also from the investor’s perspective was the key to a successful close.
