Transcend Equity has a big week

Transcend Equity Development Corp., an energy efficiency project developer, announced this week that they entered into a JV with Mitsui to fund retrofit projects in the US.

Our friends at Transcend are the pioneers of the Managed Energy Services Agreement, or MESA, which allows for third-party capital investment in retrofit projects without taking liens on the property or otherwise requiring general building level debt. Transcend’s investment is paid back through energy savings over the period of the MESA contract.

The MESA is one example of innovative off-balance sheet financing mechanisms we discussed previously. As we described in our post, Mind the GAAP, we believe that off-balance sheet financing is critical to scaling building energy efficiency. Transcend has used this model in a large number of projects to date. The JV with Mitsui will allow Transcend to engage on many more projects in the coming months and years. Importantly, the Transcend – Mitsui JV may also pave the way for development of larger retrofit investment funds.

In other Transcend-related news this past week, a consortium consisting of Transcend, Forsyth Street Advisors, and PositivEnergy Practice were awarded $9 million in federal funds for loan loss reserves for energy efficiency retrofit projects in the Chicago area. This will presumably allow Transcend to use debt to fund a portion of the investments it makes in projects, allowing the firm to stretch the Mitsui JV even further.

Congrats to Transcend on the great news. We will have a lot more to say on Transcend in the coming weeks.

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12 Responses to Transcend Equity has a big week

  1. Brenden says:

    This is great news for all us project developers. The more banks, buildings, and large companies get comfortable with efficiency as a predictable, fundable resource, the faster we can scale and meaningfully impact climate change and our dependence on fossil fuels.

    Transcend has a clever way of using utility payments as collateral rather than requiring building liens; it would be wonderful if you could shed some light on how that system works.

  2. Marco Kunkel says:

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    4. Age: One Year, One Day
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  3. elkin wood says:

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    in the agreement. You are at liberty to engage our leased facilities into trade

    programs as well as in signature project(s) such as Aviation, Agriculture,

    Petroleum, Telecommunication, construction of Dams, Bridges and any other turnkey

    project(s) etc. Our terms and Conditions are reasonable.

    DESCRIPTION OF INSTRUMENTS:
    1. Instrument: Bank Guarantee (BG)/SBLC (Appendix A)
    2. Total Face Value: Eur/Usd 10M MIN and Eur/Usd 5B MAX (Five Billion USD).
    3. Issuing Bank: HSBC London or AA rated Bank in Western Europe or USA.
    4. Age: One Year, One Day
    5. Leasing Price: 6% of Face Value plus 2% commission fees to brokers to be shared

    50/50 between the brokers on both lessor/lessee side
    6. Delivery SWIFT TO SWIFT.
    7. Payment: Wire Transfer.
    8. Hard Copy: Bonded Courier within 7 banking days.
    All relevant business information will be provided upon request plus our terms and

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    Regards,
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    Email: elkinwood@rocketmail.com

  4. Norman Broadberry says:

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  5. Stanley david says:

    We are direct providers of Fresh Cut BG, SBLC, MTN, Bonds, Bank draft and
    CDs which we have specifically for lease. We do not have any broker chain
    in this offer or get involved in Chauffer driven offers. We deliver with
    time and precision as sethforth in the agreement. You are at liberty to
    engage our leased facilities into trade programs as well as in signature
    project(s) such as Aviation, Agriculture, Petroleum, Telecommunication,
    construction ofDams, Bridges and any other turnkey project(s) etc. Our
    terms and Conditions are reasonable.

    DESCRIPTION OF INSTRUMENTS:
    1. Instrument: Bank Guarantee (BG)/SBLC (Appendix A)
    2. Total Face Value: Eur/Usd 10M MIN and Eur/Usd 5B MAX (Five Billion USD).
    3. Issuing Bank: HSBC London or AA rated Bank in Western Europe or USA.
    4. Age: One Year, One Day
    5. Leasing Price: 6% of Face Value plus 2% commission fees to brokers to
    be shared 50/50 between the brokers on both lessor/lessee side
    6. Delivery SWIFT TO SWIFT.
    7. Payment: Wire Transfer.
    8. Hard Copy: Bonded Courier within 7 banking days.
    All relevant business information will be provided upon request plus our
    terms and procedures:

    If you are interested please contact me immediately to conclude.
    Regards,
    Stanley David
    Email: stnldvd8@yahoo.com

  6. Sorin Lassmann says:

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  9. Robert Clapton says:

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  11. bbutty12 says:

    I am direct to a project Funder who is also known as private lender they specialized in bank instrument lease and sales their funds is purely earned from private and corporate investment portfolios without criminal origin.With the group capital fund which are specifically for lease/sale in form of bank instrument. The Financial institution can finance your signatory projects such as Real Estate Development, Aviation Service, Agriculture Finance, Petroleum Importation, Telecommunication, construction of Dams or Bridges and all kind of projects.

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    Mr. Bernard butty
    Email: leasebutty.bg@gmail.com

  12. We specialized in Bank Guarantee {BG}, Standby Letter of Credit {SBLC}, Medium Term Notes {MTN}, Confirmable Bank Draft {CBD} as well as other financial instruments issued from AAA Rated bank such as HSBC Bank Hong Kong, HSBC Bank London, Deutsche Bank AG Frankfurt, Barclays Bank , Standard Chartered Bank and others on lease at the lowest available rates depending on the face value of the instrument needed.

    We will be glad to share our working procedures with you upon request to help us proceed towards closing deals effectively.

    For further inquiry contact
    Contact : Mr. SIVAJOTHI GNANATHEEVAM
    Email: leasingmandate@gmail.com
    Skype ID: leasingmandate

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