Wintrust Commercial Finance created a new group, Renewable Energy Finance, that will focus on financing solutions for solar and other renewable energy projects. To execute this initiative, the company hired Brian DePonte as senior vice president, renewable energy finance after previously serving in the same role at Key Equipment Finance – Clean Energy for the last decade.
“It is an exciting time in renewable energy markets with a multitude of factors helping to dramatically increase demand,” DePonte said. “I’m looking forward to joining the great team at Wintrust. The tremendous success of the organization generates a substantial tax appetite which can be effectively deployed with clients, developers and prospects to mobilize their renewable projects and solutions.”
“Global clean energy investment has continually risen over the past few years,” Kirk Phillips, president and CEO of Wintrust Commercial Finance, said. “It’s not only a logical move for Wintrust to get involved in directly financing these projects, but it’s a strategic move as well that our clients will greatly benefit from.”
The financing solutions offered by the group will be structured utilizing long-established industry leasing standards for both PPA and direct financing of solar and other renewable projects. According to Wintrust, the group will focus initially on solar projects and expand the business over time into other renewable energy segments including fuel cells, renewable natural gas (RNG), hydrogen, EV and EV charging infrastructure and energy efficiency solutions.
