Tempe, AZ, USA, Sept. 07, 2023 (GLOBE NEWSWIRE) -- Erthos, an emerging energy technology company focused on breakthrough advances for utility-scale solar, today announced availability of a key credit enhancement product that provides investment-grade guarantee on the production of Earth Mount Solar® PV plants.
Offered by kWh Analytics, the Solar Revenue Put product de-risks Earth Mount Solar PV assets with insurance-backed production guarantees for up to 95% of expected energy output. With the largest solar asset production database in the US, kWh Analytics has earned the trust of highly rated insurance carriers who have so far insured over 4 giga-watts of solar energy through kWh Analytics’ Solar Revenue Put offering. “We are excited to be able to use our deep understanding of utility-scale solar plant production and data-driven underwriting to help further the implementation of Erthos technology,” says Jason Kaminsky, kWh Analytics’ CEO, “By providing production insurance, we aim to give Erthos’s clients confidence in expected cash flows, facilitate favorable financing, and accelerate the adoption of this transformative solar technology.”
Erthos has reinvented utility-scale solar by offering a technology that eliminates structural steel and places solar modules directly onto the earth – enabling the lowest-cost method of building and operating solar power plants. Added benefits of Earth Mount Solar PV include more than twice the energy per acre, half the time to build, and the highest wind rating of any solar architecture in the market. By adding the Solar Revenue Put, developers can now enjoy these benefits alongside the additional assurance that they and their financial partners will receive the cashflows they expect. This, in turn, can improve lender terms for the project.
“The Solar Revenue Put does three things simultaneously,” says Benjamin Cook, EVP of Energy Products at Erthos. “In addition to the underwriting of the asset’s production, it also validates our energy predictions and simplifies project financing,” says Cook.
This news is the latest in a string of positive announcements from Erthos. In July, they hired Nate Coleman, former Chief Products Officer at SunPower, to become their Chief Technology Officer; and earlier this week, the company revealed it had recently added 34 MW of new contracts to its rapidly growing project portfolio. Now, by reaching an agreement with kWh Analytics to make available to its customers investment-grade production insurance, Erthos has continued its advance toward mass market adoption.
Erthos will be exhibiting at the annual RE+ solar trade show in Las Vegas, Nevada, September 12th through 14th. Customers and the press are encouraged to visit booth 28048 to learn more.
About kWh Analytics
kWh Analytics is a leading provider of Climate Insurance for zero carbon assets. Utilizing their proprietary database of over 300,000 operating renewable energy assets, kWh Analytics uses real-world project production data and decades of expertise to underwrite unique risk transfer products on behalf of insurance partners. kWh Analytics has recently been recognized on FinTech Global’s ESGFinTech100 list for their data and climate insurance innovations. The Solar Revenue Put production insurance protects against downside risk and unlocks preferred financing terms, and Property Insurance offers comprehensive coverage against physical loss. These offerings, which have insured over $4 billion of assets to date, aim to further kWh Analytics’ mission to provide best-in-class Insurance for our Climate. To learn more, please visit https://www.kwhanalytics.com/, connect with us on LinkedIn, and follow us on Twitter.
About Erthos
Founded in 2019 and located in Tempe, Arizona, Erthos offers a full suite of products and services aimed at helping developers dramatically reduce the levelized cost of energy (“LCOE”) on utility-scale solar power plants. Its executives and management hail from companies including Tesla, Intel, General Electric, First Solar, SunPower, Depcom Power, Sterling & Wilson, SMA, Solar Frontier, and Plug Power. The team has extensive experience in global markets, including the US, Latin America, Australia, Europe, the Middle East, Africa, India, Asia, and the Pacific. Find out more about Erthos at www.erthos.com or on LinkedIn.
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