Building Energy announced it has adopted the beEdison software and services platform powered by truSolar® at the World Future Energy Summit in Abu Dhabi. A significant portion of Building Energy investment in US commercial solar projects will be screened by beEdison.
Building Energy is a global IPP (independent power producer) with operating and development assets worldwide. Based in Milan – Italy, the company has offices and assets in Europe, Africa, the Middle East, Japan, the United States, and Central America.
"We are excited to partner with beEdison, and pleased to announce we have already made investments of $8 million, and another $20 million in commitments via the platform," said Andrea Braccialarghe, managing director of Building Energy US. "beEdison has designed an efficient and effective tool that helps us deploy more capital into reliable solar assets – not only in the US, but with promise for improvements to investments and operations around the globe."
beEdison is the first cloud-based software engine powered by truSolar®. truSolar® is an open-source risk screen developed by the solar industry to drive down financing costs for commercial solar installations. truSolar® evaluates more than 800 factors impacting a project's performance and establishes a uniform model to assess non-residential solar projects while helping to unlock a potential trillion-dollar commercial solar market. The truSolar® standard is in the process of being transferred to a non-profit accreditation body, which will make it available for use by the entire industry.
beEdison uses the truSolar® uniform risk-screening standard to simplify what is widely recognized as a complex process, similar to how TurboTax® works for the tax code. Linking a logic-based survey and recommendation engines to risk scores, readiness ratings, document libraries, financial information, a deal room and powerful reporting tools, the platform simplifies the process of screening and investing in commercial solar projects. Informed by the performance of more than 1,000 non-residential and small-utility solar projects valued at more than $10 billion, beEdison offers the first workflow and diligence platform for buyers and sellers of commercial solar assets. In the rush to complete projects by 2016, beEdison will be an indispensable workflow and diligence tool to efficiently sort through an exploding project pipeline, complete development and secure financing swiftly, while preparing portfolios for the secondary markets.
Building Energy joins Altus Power in using the beEdison platform. Additional partners will be announced in the coming weeks. beEdison aims to screen more than 3,000 financed projects by the end of 2016, which would make it the single largest commercial project platform in the marketplace.