In today's Tactical Tuesday, we talk with Andy Redinger, head of the Utilities, Power & Renewable Energy Group at KeyBanc Capital Markets (KBCM).
KBCM is Cleveland-based KeyCorp's corporate and investment banking arm. It's North America's leading renewables project finance lender and provides services to clean technology firms in the power generation, smart grid, energy management, and pollution control sectors.
Andy discusses KeyBank's response to a spate of fast followers in the renewable energy lending space, examines the role of construction and term debt and equity, and looks at lessons learned from the unfortunate demise of yieldcos. (Yieldcos are tools for financing clean energy projects with cheap stock market capital from a diverse pool of dividend-focused investors, and it was once a very popular option for wind and solar development platforms.)
Andy gives his perspective on the US Inflation Reduction Act (IRA), which includes extensions and enhancements to existing tax credits to spur the development of renewable energy projects. "It was like throwing gasoline on a roaring bonfire," Andy said.
Why does he think that? Tune in to find out that and more about financing renewable energy projects.
The conversation was part of the RE+ PowerUp Media Zone, a live production of SunCast Media.