A team of experienced microgrid and distributed energy resource leaders announced the readiness of Crescendo Power to allocate sponsor and tax equity, focused on funding 1-10MW onsite power generation projects in the Commercial, Industrial, Higher Education and Hospital segments.
After a company he co-founded in 1992 was acquired by Hitachi in 2006, Todd Price spent over 10 years at Hitachi, Ltd and most recently established the new Hitachi Microgrids business within Hitachi Americas, Ltd. during 2014, prior to leaving at the end of 2016 to focus on distributed generation markets in high growth segments. Coleman Adams was part of a Hitachi acquisition in 2012 and was also a founding member of Hitachi Microgrids. Todd and Coleman believe that distributed generation solutions can bring end customers lower energy bills, lower emissions footprints and increased resilience for critical operations, while in many cases supporting utility and state goals related to customer choice, integrated renewables and strengthening the grid.
Crescendo Power's early pipeline of projects under evaluation is over 50MW's, spread across 15 end customers and across 12 states. Crescendo Power is technology neutral and looks to partner with project developers, engineers and equipment manufacturers that are experienced in the distributed generation market.
"We ultimately want the very best project outcome for the end-customer's needs because we intend to be in business with that customer for the entire duration of the project," Price says. "That means we need to support an objective engineering design and realize that the appropriate technology choices will vary from project to project…this is not a cookie-cutter business model at this point."
Multiple recent reports from analysts at Bloomberg New Energy Finance, GTM Research and Navigant detail the increasing pace and growing size of the Commercial and Industrial distributed generation and microgrid market within key states that includes Massachusetts, Connecticut, New York, New Jersey, Maryland, California and Hawaii. End customers are beginning to realize that onsite generation projects can be financially attractive, relatively quick to deploy, supportive of corporate renewables/emissions goals and more resilient against numerous growing threats to the existing grid infrastructure.
"Feedback from multiple real estate developers, energy project developers, equipment manufacturers, engineering firms and software control companies support that the 1-10MW behind-the-meter segment is poised for high growth and needs private equity at the table," states Adams. "We are flexible to enter into a project at multiple phases depending on what our development partners and the end customer need for project success."
Crescendo Power | http://www.crescendopower.com