Case Studies


Clean Focus’s Acquisition of Greenskies

TRANSACTION OVERVIEW

  • On June 30, 2017, the Clean Focus Group, an affiliate
    of Taiwan-based Neo Solar Power Corporation (“NSP”), completed its acquisition of 100% of Greenskies and its affiliates (“Greenskies”)

CLEAN FOCUS OVERVIEW

  • Clean Focus is an affiliate of the Taiwan-based Neo Solar Power Corp. and an integrated group of renewable energy companies
  • Subsidiary Clean Focus Yield, an independent power producer that owns and operates renewable energy projects in the United States and China, acquired Greenskies’ operating solar projects
  • Another affiliate that develops utility-scale and commercial and industrial solar projects primarily in the United States and China acquired the Greenskies development platform

GREENSKIES OVERVIEW

  • Founded in 2008 and headquartered in Middletown, CT, Greenskies is one of the leading renewable energy companies that designs, builds, owns and maintains solar photovoltaic (“PV”) systems for Commercial and Industrial clients, government agencies, educational institutions and utilities throughout the United States
  • Greenskies has developed projects in ~20 states and installed solar projects for many of the most prominent Commercial and Industrial clients, including many of the most prominent retailers
  • At the time of acquisition, Greenskies had installed over 250 solar installations accounting for over 110 megawatts of nameplate capacity and had a project development pipeline of more than 350 megawatts

GREENTECH’S ROLE

  • Greentech served as exclusive financial advisor to Greenskies and was closely involved in all aspects of the transaction, including leading outreach, preparation
    of all process materials, structuring, due diligence and negotiation
  • Greentech’s deep industry relationships, global connectivity and extensive
    transaction experience allowed Greenskies to maximize valuation by creating
    competitive tension, properly positioning the opportunity to appeal to a wide range of potential acquirers, designing a complex transaction structure and significantly improving deal terms

WHAT THE TRANSACTION MEANS

  • The transaction illustrates the breadth
    of global interest in leading U.S. renewable energy companies for growth and stable cash flows, as well as the increasing commitment by companies to better
    serve leading Commercial and Industrial companies
  • Greenskies will benefit from increased financial resources and international
    scale to accelerate growth and expand
    its product suite
  • This acquisition makes Clean Focus
    one of the largest and fastest growing commercial solar developers and
    operators with a national footprint