GSG Leasing Launches GSG Energy Finance Division
Published July 25, 2012
Categories: New Ventures
GSG Leasing, a boutique equipment finance company, announced July 24, 2012, the creation of the GSG Energy Finance Division, which will concentrate on supporting manufacturers, vendors and end users in the development of energy efficient solutions. GSG Energy Finance sees four key areas of focus at the outset of its business: LED lighting retrofits, commercial mechanical system upgrades, solar installations and green building retrofits.
“GSG is always looking to expand our portfolio and sustainable energy is something our team is passionate about,” said Andrew A. Bender, chief executive officer of GSG Leasing. “The opportunity to create the Energy Finance Division is exciting as it’s a natural extension of our current business. I am confident we will be able to support this market well.”
Prior to creating GSG Energy Finance, GSG Leasing beta tested the program with several key projects including a steam boiler upgrade for a large urban commercial building and an LED lighting upgrade for a factory in the Southeast. GSG Energy will continue to leverage GSG Leasing’s value proposition based on personalized service and customized documentation and billing.
GSG said its Energy Finance Division was created with the mission of leveraging private capital to help its clients achieve lower energy costs while reducing their energy consumption, supporting local economies, and decreasing their carbon footprint. By working with project partners, including mechanical contractors, energy consultants, solar installers, and lighting contractors, GSG builds estimated energy savings into its financial models. The goal is to structure models such that the end-user sees net positive cash flow early in the life of the equipment – in some case as soon as year-one.
In addition, GSG said its Energy Finance Division has recognized that some organizations, such as non-profits and municipalities, cannot take advantage of the same tax benefits as private, for private companies. GSG is well-placed to capture these tax benefits in order to reduce the effective project cost, bringing energy savings to an even broader segment of the population.