Article originally published in PR Newswire
Integrated generation management and financial services platform combines project financing and generation together into a single offering.
Crayhill Renewables, the Nashville-based renewables affiliate of Crayhill Capital Management, and Exelon Generation Company, LLC, doing business as Exelon Power Services, operator of more than 30 gigawatts of generation assets, announced today a comprehensive lifecycle management program designed to support renewable energy projects by offering end-to-end financing and operational services.
The partnership provides the industry with a unique combination of renewable developer solutions that include pre-Notice to Proceed (“pre-NTP”) lending, transmission and development advisory, take-out equity from Crayhill Renewables, and post-Commercial Operations Date operating solutions from Exelon Power Services. Exelon Power Services combines the company’s operational expertise with its industry leading customer business to provide a complete spectrum of power plant management.
This package offers project developers a single integrated solution for both financing and generation management, simplifying the complex path between early-stage development and project operations. This in turn will help accelerate the energy transition by empowering developers through Crayhill Renewable’s flexible capital products and Exelon Power Services’ capabilities in plant operations, energy management and other areas of support.
“This innovative program is designed to provide our customers with a full range of services to enable them to quickly bring renewable projects to market,” said Glen Robinson, Vice President of Exelon Power Services. “Our combined ability to offer capital, marketing and operations expertise can de-risk projects through their entire life cycle.”
Erick Bauman, Managing Director of Crayhill Renewables, added, “We’re excited to partner with Exelon Power Services and bring to market these much-needed solutions for our project development partners. Crayhill and its principals have invested over $1 billion in pre-NTP assets. Now, our development partners can leverage the collective resources, knowledge and analytics of Crayhill and Exelon to scale their businesses rapidly to meet the growing demand for renewable energy across the United States.”
About Exelon Generation
Exelon Generation Company, LLC, a subsidiary of Exelon Corporation (Nasdaq: EXC), is the nation’s largest producer of carbon-free energy, powering more than 20 million homes and businesses through a diverse generation fleet with approximately 30,000 megawatts of capacity. Exelon Generation owns and operates the largest U.S. fleet of zero-carbon nuclear plants with more than 17,800 megawatts from 21 reactors at 12 facilities in Illinois, Maryland, New York and Pennsylvania. It also owns and operates a diverse mix of wind, solar, hydroelectric, natural gas and oil facilities in 18 states with approximately 12,000 megawatts. Exelon Generation sets the standard for world-class power plant operations that produce clean, safe, reliable electricity, and is an active partner and economic engine in the communities it serves by providing jobs, charitable contributions and tax payments that help towns and regions grow. Follow Exelon Generation on Twitter @ExelonGen, view Exelon Generation YouTube channel, or visit www.exeloncorp.com.
About Crayhill Capital Management
Crayhill Capital Management is a New York-based, minority-owned alternative asset management firm that specializes in asset-based investment opportunities. The firm was launched in August 2015 and is registered with the U.S. SEC as an investment adviser. Crayhill strives to deliver capital solutions through tailored financing structures. Its asset-based investment strategies draw on deep sector expertise and relationships throughout the structured finance and specialty finance markets. For more information, please visit https://crayhill.com or email firstname.lastname@example.org.