Episode Details

About our Guest:

Benoy Thanjan

Benoy Thanjan is the Founder and CEO of Reneu Energy and he is also 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 and utility scale solar plus storage projects. The company also sources financing for solar projects and hedges energy and environmental commodities. Reneu Energy has brokered $27 million in environmental commodities 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.

Graham Smith

As the Founder and CEO of Open Energy Group, Graham Smith was able to combine his experience and passion for renewable energy and finance. Open Energy Group is the lending tree of renewable energy assets, providing easier access to capital markets. With over 5.5 years in business, they have become the marketplace and financial solution provider for the U.S. commercial energy sector, underwriting nearly $1 billion dollars.

Episode Summary

Graham shares with Benoy the lessons he learned as an Olympic athlete and how those lessons prepared himself for the hard work, persistence and patience to becoming a successful entrepreneur. This hard work, combined with his passion for renewable energy and experience in the financial world helped him successfully recognize and fill a need in the industry. Benoy and Graham discuss how other entrepreneurs can learn from that experience as well as how those interested in the solar market can benefit from not only the services Graham offers but how he is shaping the industry as a whole.

Insight from this episode:

• How to access different financial solutions for the solar market
• Reasons it’s easier to fund builds greater than $1 million
• Strategies for finding consumer and commercial choices for solar builds and financing
• How current financial trends are affecting the solar industry
• Strategies for surviving the first year in business
• Why growing a business is not always a linear path
• How passion can affect your success as an entrepreneur

Quotes from the show:

• ”The sector is still in it’s infancy; there is no entrenched method (in regards to accessing solar and financial provisions). If you want a new roof you might just go to your bank and they will understand that, with solar there is still a lack of awareness" Graham Smith, Episode #18.

• In regards to financial transactions under $1million, “It can get expensive with the legal costs and outside legal counsel looking at the agreement.” Benoy Thanjan, Episode #18.

• • “There is no and shouldn’t be one solution to allow solar and renewable energy to flourish at this lower complex level; there needs to be a proliferation - a choice - there needs to be consumer/commercial choices about the products  and that’s what we aim to provide.” Graham Smith, Episode #18.

• “I think a necessary trend that is needing to happen is simplifying the process