Company Recognized for Innovation in the Commercial and Industrial Solar Finance Market
Open Energy, an innovative provider of debt financing solutions for U.S. commercial and industrial solar projects, today announced that it has been selected as a Rising Star finalist for the Platts Global Energy Awards. Open Energy is recognized for developing the first-of-its-kind online borrower platform for non-residential solar developers and asset owners.
The 2016 finalists were chosen from over 170 nominees from 30 nominating countries by program host S&P Global Platts, the leading global provider of energy and commodities information and spot market benchmarks. Open Energy was selected for its innovative financing platform, which slashes transaction costs for solar developers by up to 70 percent by greatly simplifying the commercial solar loan application, underwriting and funding process.
"Being named a Platts finalist is such an honor, as it demonstrates recognition of our mission to drive the growth of the commercial solar market and enable project ownership," said Open Energy CEO Graham Smith. "Our technology-driven solution provides highly cost-effective debt products and eliminates the friction that solar developers have traditionally experienced."
Established in 1999 and often described as "the Oscars of the energy industry," the Platts Global Energy Awards highlight corporate and individual innovation and leadership and superior performance in 18 categories that span the entire energy complex.
The Platts Global Energy Award winners will be announced at the 2016 Platts Global Energy Awards gala in New York City on December 8.
About Open Energy
Open Energy provides innovative financing solutions to support the growth of U.S. commercial and industrial solar energy infrastructure. Open Energy's financing approach and borrower platform utilizes an innovative, technology-driven underwriting process. For borrowers, Open Energy offers increased access to capital and a streamlined time- and cost-efficient loan application process. For institutional and accredited investors, the strict risk methodology offered through Open Energy's proprietary online platform delivers quality project secured debt with strong risk-adjusted returns. For more information about Open Energy and its debt financing solutions, please visit http://www.openenergygroup.com/
About S&P Global Platts: At S&P Global Platts, we provide the insights; you make better informed trading and business decisions with confidence. We're the leading independent provider of information and benchmark prices for the commodities and energy markets. Customers in over 150 countries look to our expertise in news, pricing and analytics to deliver greater transparency and efficiency to markets. S&P Global Platts coverage includes oil and gas, power, petrochemicals, metals, agriculture and shipping. S&P Global Platts is a division of S&P Global (NYSE: SPGI), which provides essential intelligence for companies, governments and individuals to make decisions with confidence. For more information, visit www.platts.com.