OBJECTIVE: Cedars Capital provides capital and market expertise in the Renewable Energy Sector, working in the Downstream Biomass Power Space and with the various biomass and related feedstock's including pelletization. Biomass opportunities and the commodity markets that are traversed often involve early stage financings or venture financings of new energy technologies or renewable and alternative energy opportunities. Services include Origination and Development, Mergers & Acquisitions, Divestitures or Financings (Debt, Equity or Mezzanine).
HISTORY: Cedars Capital and its Principals have a proven track record of originating and structuring commercial transactions in competitive markets throughout the world. Cedars Capital can successfully develop, fund and close highly complex multi-faceted infrastructure projects and transactions with imaginative problem solving and solutions.
Current Development Opportunities include:
· Renewable Energy Assets, sourcing acquisition capital to provide for commercialization of patented technology and project development of downstream renewable power projects.
· Power Purchase Agreements for biomass and related feedstock businesses. Cedars is on the cutting edge of negotiating the pass-through of various feedstock risks to the credit worthy off-takers through power and pellet purchase agreements.
· Procurement of Development Equity for the development of Biomass fired power plants and associated contractual obligations.
· Venture Capital and early stage financings for clean tech and renewable energy technologies that do not have strong commercial histories in the U.S.
Previous Advisory Assignments:
· Renegy Holdings, providing development, investment and financial advisory services for its Renewable Energy businesses, including a $67MM financing for a 24MW Biomass Power Project in Snowflake, Arizona. Cedars Capital provided underwriting and deal structuring and financial close for this energy development opportunity.
· Power Purchase Agreements for biomass and related feedstock businesses. Cedars is on the cutting edge of negotiating the pass-through of various feedstock risks to the credit worthy off-takers through power and pellet purchase agreements.
· EIM Controls, Led Divestiture and Corporate Optimization strategy for a manufacturer and marketer of valve actuation products to maximize shareholder value through potential sale of the company.
· Ministry of Electricity under the Coalition Provisional Authority for
· Imperial Petroleum Recovery Corporation: A publicly traded, environmental remediation company in the mid-stream energy sector. Advised on marketing, originating and sales of its proprietary Microwave Separation Technology.
Previous Acquisitions and Financings:
EL PASO CORPORATION
Origination of Long Term Power transactions for El Paso’s Midwest Assets and making Long Term Power Position and Asset Acquisitions in the Downstream Market
· Acquired 3 different ownership interests in 2 Qualifying Facility power projects, exclusive of existing project debt which generated $100 million in earnings through restructuring.
· Purchased a $185 million portfolio of downstream assets from a NE Industrial Group and an energy investment firm that included a gas fired power plant and a waste coal power plant.
· Acquired a $35 million waste coal power plant and related steam host from a NE manufacturer and Engineering Company resulting in $40 million NPV of Cash on Cash returns with an Internal Rate of Return in excess of 1,000% after Power Purchase Agreement restructuring and subsequent sale of the remaining asset.
ENRON CORPORATION
· Secured board approvals of Dabhol Phase II Power and LNG plant prior to $1.87 billion project financing.
· Initiated a JV with a Japanese Trading Company to submit a $1.5 billion bid for a 2000MW combined cycle power project with LNG fuel and natural gas distribution network for Ennore, Tamil Nadu,
· Submitted, won and negotiated a $150 million bid for a 250MW power plant project in Ranipet, Tamil Nadu,
FALCON SEABOARD POWER CORPORATION
· Maximized the value of 530 MW power plant portfolio prior to its $250 million sale (plus associated debt).
· Participated in the acquisition and underwriting of a supply side and demand side energy-service providers.