SMP 49: A Consultative Approach to Develop and Finance Solar Projects

Episode Summary 

In this episode, Michael and Benoy discuss how consultative approach to solar development and financing add the most value to the customer to make the best decision.   In addition, they discuss the importance of transparency and close relationships in success in business.   

Benoy Thanjan

Benoy Thanjan is the Founder and CEO of Reneu Energy, as well as an advisor for several solar startup companies. Reneu Energy is a premier international solar energy consulting firm and developer, and the company focuses on developing commercial and industrial solar, as well as utility-scale solar plus storage projects. The company also sources financing for solar projects and hedges both energy and environmental commodities. Reneu Energy has brokered $27 million in environmental commodity transactions. 

Benoy received his first experience in Finance as an intern at D.E. Shaw & Co., which is a global investment firm with 37 billion dollars in investment capital. Before founding Reneu Energy, he was the SREC Trader in the Project Finance Group for SolarCity, which merged with Tesla in 2016. He originated SREC trades with buyers and co-developed their SREC monetization and hedging strategy with the senior management of SolarCity, to move into the east coast markets. Benoy also worked at Vanguard Energy Partners, Ridgewood Renewable Power, and Deloitte & Touche.

 

Michael Kushner

Michael is responsible for Operations at Infiniti Energy Services.  He leads the project management staff to ensure all initiatives are completed on time and on budget, while focusing on the safety of all construction team members and quality of all installations.  He is involved in project strategy formulation during project development, as well as strategy implementation through completion.

 

Michael has more than 10 years of experience in managing operations in the residential, commercial and renewable energy sectors.  Before joining Infiniti Energy Services, Michael held an east coast regional operations manager position with SunEdison, where he successfully managed the development, execution and installation of more than 50MW in New York, New Jersey, Massachusetts, Maryland and Georgia.  He also held the position of Director of Construction at Pro-Tech Energy Solutions, LLC for two and a half years. During this time, he oversaw a project management and construction staff of twenty, while they successfully installed and interconnected over 120MWs of commercial and utility projects throughout the East Coast.  

Insights from this episode:

What separates Infiniti Energy Services from competitors and what markets they are focused on.
How PPAs and the difficulties of financing can affect potential projects.
How a background in real estate development can make it easier to develop solar projects and mitigate perceived risk. 
How educating customers adds value to projects and being transparent creates stronger relationships and better business. 
The benefits of the pilot program in New Jersey and how similar programs going forward will affect the industry.
What entrepreneurship in solar means and ways to succeed in business ownership by developing a loyal staff.
Different methods used to successfully balance life and business, such as meditation and turning off notifications.

 

Quotes from the show:

 

“Sometimes when you are so close to it you don’t necessarily take a moment to step back to see the strides you’ve already made because you’re focused on the strides you want to make.” – Michael Kushner, Episode #49
“You’re basically customizing solutions that add the most value to the customer. Whereas other parties might try to push a solution that might not necessarily be a good fit.” – Benoy Thanjan, Episode #49
“We like to be able to bring creative solutions to folks who want to move forward with potential projects. ” – Michael Kushner, Episode #49
In regards to financing solar “It shouldn’t be as complicated, I think, as some other finance companies make it. ” – Benoy Thanjan, Episode #49
“When you conduct business transparently and openly, there is so much time that you can save. ” – Michael Kushner, Episode #49
“Beyond business, it’s just human interaction. ” – Michael Kushner, Episode #49
On creating a business team “It isn’t only about are they right for my company, but is my company right for them. ” – Michael Kushner, Episode #49
Regarding approach to success in entrepreneurship “You always have to think strategically.” – Benoy Thanjan, Episode #49

 

“Everyone’s path is different, right?  We’re all the same, but different ” – Michael Kushner, Episode #49

 

Resources Mentioned:

New Jersey Clean Energy Program

 

Headspace - meditation and sleep app

 

Database of State Incentives for Renewables & Efficiency®

 

 

Benoy spoke about Steve Raeder who is CEO of Summit Ridge Partners and he is also SunEdison alumni like Micheal who was interviewed in Episode 26 of the Solar Maverick Podcast.

Stay Connected:

 

Benoy Thanjan

 

Email: [email protected]

LinkedIn: @bthanjan

Website: https://www.reneuenergy.com

 

Michael Kushner 

 

Email: [email protected] 

Facebook: Infiniti Energy Services

Website: Infiniti Energy Services

Twitter: @InfinitiEnergy

LinkedIn: Infiniti Energy Services

 

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This episode was produced and managed by Podcast Laundry (www.podcastlaundry.com)