Episode Summary
In this episode of Solar Maverick, Nathan Vasher discusses how Extra Space Storage is one of the biggest corporate users of solar energy and how they plan to continue growing their solar deployment and also employing energy-conscious initiatives. Nathan also shares his path to solar, trends he’s excited about, and an energy future that looks very bright.
Benoy Thanjan
Benoy Thanjan is the Founder and CEO of Reneu Energy, as well as an advisor for several solar startup companies. Reneu Energy is a premier international solar energy consulting firm and developer, and the company focuses on developing commercial and industrial solar, as well as utility-scale solar plus storage projects. The company also sources financing for solar projects and hedges both energy and environmental commodities. Reneu Energy has brokered $27 million in environmental commodity transactions.
Benoy received his first experience in Finance as an intern at D.E. Shaw & Co., which is a global investment firm with 37 billion dollars in investment capital. Before founding Reneu Energy, he was the SREC Trader in the Project Finance Group for SolarCity, which merged with Tesla in 2016. He originated SREC trades with buyers and co-developed their SREC monetization and hedging strategy with the senior management of SolarCity, to move into the east coast markets. Benoy also worked at Vanguard Energy Partners, Ridgewood Renewable Power, and Deloitte & Touche.
Nathan Vasher
Nathan Vasher is the Manager of Solar at Extra Space Storage, a publicly-traded company on the New York Stock Exchange (NYSE) and the Standard & Poor 500 (S&P 500). It is a fully-integrated, self-administered, self-managed real estate investment trust. Extra Space has properties in 40 states, Washington DC, and Puerto Rico, they own or operate over 1,800 stores comprising approximately 1.3 million units and 135 million square feet of rentable space. Extra Space has become one of the largest corporate users of solar energy according to rankings realized by the Solar Energy Industries Association (SEIA). The trade group ranked Extra Space in tenth place in terms of the number of solar installations.
Nathan has 7 years of professional client-facing experience working with public sector, non-profit and international clients through all phases of organization development; providing strategy, performance management, measures development, process improvement, change management, training and business process design services. He has experience providing technical support to advance health programs in the area of supply chain management working in multiple countries including The Netherlands, South Africa, Rwanda, the Democratic Republic of the Congo, Nigeria, Cote D'Ivoire, and Switzerland.
Insights from this episode:
Quotes from the show:
Resources Mentioned:
Solar Renewable Energy Credit (SREC)
Request for Proposal RFP
The Investment Tax Credit (ITC)
Sponsor:
We would like to thank RadiantREIT for sponsoring this episode of the Solar Maverick Podcast.
RadiantREIT is the first-ever investment trust to bring mortgage REITs to the solar energy market.
For the solar developers and EPC developers out there, financing with RadiantREIT’s solar mortgage REIT will transform how you think about the business of project development. With RadiantREIT financing, you can increase project cash flow and you can retain ownership of your projects.
The company’s cradle-to-grave financing package includes the entire capital stack. RadiantREIT arranges tax equity, 100% construction financing and up to 99% term financing at competitive rates with no upfront fees including legal and diligence!
Co-Founders Jim Spano and Jeff Just are solar and finance veterans who have brought together a team of experts to create and offer this innovative financing model enabling developers to capture the true value of their development. They are committed to addressing the financing gaps that exist in today’s market, especially for small and mid-sized developers. RadiantREIT will remove the stress of financing or refinancing, and allow you to maintain focus on your projects. Let them be your outsourced, structured finance department.
Visit www.radiantreit.com to learn more and to submit your expression of interest form today.
Stay Connected:
Benoy Thanjan
Email: info@reneuenergy.com
LinkedIn: @bthanjan
Website: https://www.reneuenergy.com
Nathan Vasher
Email: nvasher@extraspace.com
LinkedIn: Nathan Vasher
Website: Extra Space Storage
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This episode was produced and managed by Podcast Laundry (www.podcastlaundry.com)
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