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Scaling Renewable Energy M&A with Queued and Property Site Control Data

Updated: Dec 29, 2023

Scaling Renewable Energy M&A with Queued and Property Site Control Data

Industry leading technology to acquire and finance renewable energy projects

As we move through 2023, we expect M&A deal flow to remain strong in the United States as developers look to take advantage of opportunities driven by the Inflation Reduction Act (IRA).  Crowded and growing Interconnection queues combined with supply chain constraints and high inflation remain top concerns. To address these challenges, we expect renewable energy investors to seek solar acquisition deals to address costs with scale but more importantly find queued projects with very specific criteria that meet their investment criteria.

Strong M&A activity is being driven by aggressive targets to meet IRA deadlines. The number of players active in renewables development and the diversity of the competition has increased significantly in recent years. While on the surface, this is exciting news, the intense competition to achieve these growth targets, has resulted in the need for better and more immediate data and technology to ensure developers and investors can find these needles in the haystack at even earlier time periods.

solar farm data in the U.S.

Want to learn even more? Check out our previous webinar discussing finding new projects BEFORE they hit the queue.

What are Solar Lease Projects and Where can they be found?  

Site control refers to properties that are leased by a solar developer. Before a project even enters the queue, LandGate analyzes county tax assessor records to find lease agreements already in place between developers and landowners. The dataset is continuously updated by a process that locates new lease documents within days of new agreements being filed with each county. 

Accelerate Renewable M&A with Solar Interconnection Queue and Solar Leases Data

LandGate allows users to access data and tech to build, invest, acquire and finance renewable projects with the most accurate and immediate output.

Having a full picture of all active, built, planned, queued and site controlled projects gives valuable competitive intelligence - know instantly where other players have options to lease land for future development.  Avoid costly decisions of site selection in the wrong areas of the US. Conducting detailed due diligence is key to understanding the potential value of the platform and therefore being competitive in the bidding process without overpaying.

solar data layer in LandGate's tool

Spur Competitor Advantage by tracking site control pipeline

Knowing competitors’ pipeline as well as building your own pipeline is instrumental in planning an economically viable project. A thorough, bottom-up valuation of the pipeline of the target is essential for an accurate valuation.  Other factors such as grid connection, building permits, and offtake agreements should be considered in both the realization probability and the potential value of the realized capacity.

Learn which markets, which renewable energy types, where projects are added and withdrawn from queues and for the first time ever, and where lease options are placed throughout the nation.

Scale Solar M&A execution with precise criteria data

Scale M&A origination and investment efforts by searching through LandGate’s nationwide database of projects and expedite outreach campaigns with contact detail and revealed Parent Operator (behind the LLC).

  1. Filter to match investment criteria: project type, size, distance to substation, transmission lines, acreage, geography.  

  2. Combine with LandGate's other data such as PPA, Incentive, NAVs/Cash Flows, Listings to provide a tailored target output.

  3. Amplify due diligence and competitive intelligence by tracking portfolio, concentration and place in queue to reveal full portfolio and pipeline of target developers or platforms.  

  4. Reveal opportunities to jump spots in the queue that can speed up time getting the project to market and avoid upgrade costs for electrical infrastructure.

LandGate's PowerMarkets tool allows users to filter the desired investment criteria, revealing target lists with contact details.

What Contact details are needed to acquire Solar Queued and Leased projects?

LandGate has systematically identified both the true parent company behind an LLC, but also given all contact details of the site operator. Utilize the platform to find a project or parcel, and research the entire portfolio of that operator. Perform an immediate due diligence process but noting their other project statuses - and gaining an understanding of days and rank in queue, COD, distance to substation/transmission line - and if desired, drilling into all the underlying documents including applications, perkins, site control details.

How can Solar Queued Project data improve project acquisition and competitive intelligence?

Beyond a competitive perspective, the dataset also provides intelligence for M&A teams at developers, Private Equity Investors and Project Financing teams at Investment Banks. There are several data challenges to viewing a complete picture of competitive current and future assets. By combining and aggregating every county record and each interconnection queue, and supplementing with grid and capacity data, users can easily sift through noise for better understanding of which players are the best targets.

Additionally, the competitor landscape is changing. Not only are independent developers and utilities looking to scale their acquisitions, but also oil and gas companies are increasing their decarbonization plan as well as major financial institutions who want to push ESG mandates while expanding their value chain propositions.  

How to identify the Operator behind the LLC of a Solar Queued Project or Solar Lease?

LandGate’s PowerCapital unmasks LLC’s to help energy companies understand who to contact to potentially acquire a project already in the queue.  This data is intentionally vague and difficult to decipher.  LandGate pulls the underlying application and documentation, and then maps to the true Parent Developer through an advanced scientific approach, automatically combing through underlying documents like applications and making this possible. 

Not only is the data available at the farm level, but users are able to search and aggregate at this level. The dataset provides a picture of counties with many projects already queued and which counties are primed for new projects.  LandGate compiles interconnection queues from ISOs and RTOs, providing a complete picture of queued projections throughout the USA, all in a single, standardized database.

Complement your search with the largest M&A Renewable Database

Investors are hunting from thousands of opportunities (projects, developers, land), value suitable sites, model NAV/cashflows, forecast future Cash Flows with proper sensitivities. Bankers must accurately and timely construct Comparable deals for risk Assessment and underwriting due diligence. Additionally, they need to quickly screen without 3rd party engineers until the deal is active. Leveraging LandGate’s PowerM&A software allows users to find active deals, monitor competitors’ dealmaking, and mitigate risk against ever changing factors.

Move from Strategy to Execution - Leading Technological Solution for Renewables M&A

M&A in the renewables space has surged with most developers and Private Equity firms racing to acquire projects and even platforms. Interconnection queue congestion is a challenge for solar and wind development.

With LandGate's innovative platform, you will have powerful tools to clear the path for renewable energy projects. Contact our team to learn more or schedule a demo with one of our Capital Markets professionals.


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