Published on November 20, 2020
Michael Kagan, Senior Vice President at Concentric, recently led a team that served as Market Advisor to Basalt Infrastructure Partners LLC (“Basalt”). In this capacity, Concentric supported an investment by Basalt Fund III in a residential solar portfolio owned by funds managed by Ares Infrastructure and Power. This transaction is notable in that it includes approximately 11,000 existing residential solar installations and the capacity to support additional solar installations across the US through a new entity, Habitat Solar.
As Basalt’s Market Advisor, Concentric evaluated state-level regulations pertaining to net energy metering, the supply-demand balance of solar renewable energy credits in various states, and anticipated regulatory changes that will impact the economics of the residential solar market in the coming years. “With so many transactions contemplated within the on-site solar space, it’s great to support a client executing on a platform investment with long term growth potential,” said Michael Kagan.
In addition to assisting Basalt, Concentric has recently assisted numerous other clients complete acquisition due diligence, including advising a solar developer in the acquisition of a retail power and gas supplier, advising several private equity investors in their acquisitions of retail energy providers, and assisting utilities evaluate investments in the energy efficiency space.
Concentric is often selected for these engagements given our capability to quickly mobilize an experienced team that has a comprehensive understanding of the competitive energy landscape and wholesale and retail energy regulations, and an understanding of the specific diligence needs of debt and equity investors.
More information is available regarding Concentric’s due diligence and retail services here.