OneEnergy Renewables develops large-scale clean energy projects and make renewable energy solutions accessible and cost-effective for its utility, corporate and institutional clients. The company reduces the total installed cost of solar by improving efficiency in site selection and early-stage development, making more large-scale projects viable across the country and in Pacific Northwest.
When looking for pre-development capital, OneEnergy founders Bryce Smith and Bill Eddie found it difficult to get financing for new projects that provided future, rather than current, cash flows. Then they met Craft3, which factors cash projections into the underwriting and risk management process, enabling it to lend for projects in development.
Craft3 provided OneEnergy with a Future Energy Fund loan to cover pre-development costs for two solar projects underway outside Ellensburg, Wash. Upon completion these projects will be the first utility scale solar arrays installed in the state.
"The solar market in the Pacific Northwest has great potential, and with Craft3's support, we are able to accelerate the development and delivery of new large-scale projects to market faster than anyone thought possible." Scott Bixby, OneEnergy Renewables.
OneEnergy Renewables used Craft3 financing to create positive impacts in its community. This green production business is in a high poverty area, leveraged $23,000 in additional investment and created/retained eight living-wage jobs. It also averted 7,549 metric tons of greenhouse gasses.
With generous support from the Washington State Department of Commerce, Craft3 offers loans to help businesses finance commercial energy-efficiency work and renewable energy technology installations through the Craft3 Future Energy Fund. Learn more at www.Craft3.org/FutureEnergy and www.oneenergyrenewables.com.