Operational Solar Project Refinancing
Once a solar plant has operating history, the risk lenders see is lower than at construction. That can support refinancing to replace a construction or mini perm loan, extend tenor, release equity or move to a new lender.
FG Capital Advisors prepares operating solar and storage assets for refinancing and places the new facility with third party lenders.
Start Client IntakeWho This Is For
Owners at Loan Maturity
Owners whose construction, mini perm or bridge loan is due.
Owners Releasing Equity
Sponsors who want to release capital from operating assets to fund new projects.
Portfolio Owners
Owners who want to combine several operating projects into one facility.
Owners of Underperforming Assets
Owners whose plant needs a reset of debt terms after performance issues.
What FG Capital Advisors Arranges
Performance Review
Analysis of actual generation, availability and revenue against the original base case.
Debt Resizing
Updated model and debt sizing on operating data and remaining contract life.
Lender Replacement
Approach to new lenders, comparison of terms and coordination of existing lender payoff.
Portfolio Facility
Aggregation of several operating projects under one refinancing.
This service is part of our Solar Project Finance Advisory work, which covers every stage of solar and renewable energy financing.
How It Works
- You send the asset details through the client intake form, including operating history, existing debt and the outcome you want.
- We review performance and existing documents and send a written view of what a refinancing can achieve.
- We update the model and prepare the refinancing package.
- We approach lenders, compare terms and coordinate the closing and payoff of the existing facility.
What Lenders and Investors Look For
Operating Record
Monthly generation and availability data, ideally against an independent forecast.
Remaining Contract Life
Enough PPA or offtake tenor left to repay the new debt.
Asset Condition
Recent O&M records, warranty status and any independent technical report.
Existing Debt Terms
Prepayment terms and consents in the current facility.
Documents to Send
Operations
Monthly production, availability and O&M reports.
Contracts
PPA, O&M, land and interconnection agreements.
Debt
Existing loan agreement, balance and prepayment terms.
Financial
Updated financial model and recent accounts.
Related Services and Guides
Frequently Asked Questions
When does refinancing an operating solar project make sense?
Common triggers are a maturing construction or mini perm loan, an improved risk profile after operation, a need to release equity or a wish to combine several assets.
Will lenders use actual production data?
Yes. Lenders compare operating data with the original forecast and may adjust the production case for debt sizing.
Can underperforming assets be refinanced?
Sometimes, if the cause is understood and fixed. Lenders will want a technical review and a realistic revised case.
How do I start?
Send operating data, the existing loan agreement and the model through the client intake form.
Start Your Client Intake
Send the project through our client intake form with the details listed above. We review every submission and reply in writing with the scope, fee and next steps.
Start Client IntakeLenders and investors make their own credit and investment decisions. Terms and approval depend on their diligence, and funding is not guaranteed.
