TENSOR SPC · RENEWABLE INVESTMENT
Own a generation business
that data and AI actually run.
Tensor SPC acquires distributed renewable plants that are already operating and runs them on the Tensor platform. An SPC holds the generation business, and Tensor carries the whole of it: diligence on the asset, the shape of the ownership, the funding, and the daily operations and reporting once the plant is ours.
BACKGROUND
These plants are already built, and they can generate for decades.
Japan has a great many small plants built under the FIT scheme, spread thinly across the country. Each one is small and there are a lot of them, so an operating model built around people cannot cover its own management cost, and a good deal of equipment stops well short of what it could do. Other assets simply sit there, with no buyer found and no business ever assembled around them.
Keeping those plants running is where Tensor SPC starts.
OPERATIONS MAKE THE RETURN
The same equipment earns differently, depending on the decisions around it.
What a renewable asset earns turns on what happens after it starts running. When it generates and how much, which market it is sold into and at what price. How curtailment is avoided. How environmental value is handled. How quickly a fault is caught. Those daily decisions accumulate, and they decide what the same equipment is worth.
Forecast to settlement, automatically
The platform forecasts generation and market prices, bids into the markets, files the schedules and settles, without a person in the loop.
One data foundation
Business plan, accounting actuals and generation actuals are joined on a single data foundation, and the state of every plant is visible on it.
Plan against actual, on the spot
Where the variance opened up is legible immediately, so the options can be weighed while the conditions are still movable.
More plants, not more people
Running the portfolio without adding headcount for every plant is the condition that makes small distributed generation work as a single business.
Asset management for decisions, not paperwork for reporting.
Converting to FIP, selling environmental value, replacing equipment, adding storage, refinancing. Every option can be compared under changed assumptions before it is chosen.
SCHEME
How a Tensor SPC is put together
Plants come across from their owners and the SPC holds them. Capital partners provide equity and debt, and the power and the environmental value are sold to markets and offtakers. Tensor carries both sides: structuring and funding, and operations and asset management.
TAKING PLANTS ON
We take the business on and put it into shape.
With Tensor SPC, the work starts at assembling a deal into a business.
Conversation
Owners weighing succession or a sale, and the EPC and O&M operators who work on those assets, come to us first.
Diligence
We work through generation history, equipment condition, permits, contracts and grid terms.
Structuring
We design the shape of the ownership, build the terms with banks and investors, and put the funding in place.
Operations
The operating setup and the management framework for life after the acquisition are prepared as part of the same piece of work.
Bringing large numbers of small plants together into a financing structure is still uncommon in Japan. In a field where the checks pile up one deal at a time, we have built a team that can run the diligence, the funding and the operations that follow, all in house.
STRUCTURING
Translating what the business is into the language of finance.
The hardest part of bringing capital to small distributed generation is restating what the business actually is in a form a bank or an investor can assess. Unless the record of hundreds of plants can be explained as certainty of repayment and a view on distributions, the deal does not move.
People who have done the work
Our team includes people who have structured project finance, designed the revenue mechanics of a business, and negotiated terms with lenders as their day job. Power, finance, legal and operations all have to move at once to assemble a single deal, and Tensor connects them in house.
The assumptions already live in the platform
Generation, availability and forecast accuracy are the assumptions a repayment schedule and a financial model rest on, and they are the same data Tensor Cloud accumulates every day. Moving an assumption to see what it does to the numbers, or checking how far actuals have drifted from plan, does not take days.
The team that writes the plan and the platform that holds the record sit together.From the business plan to the repayment schedule to the report an investor reads, all on one set of data. That is what it means for Tensor to carry the structuring.
WHERE TENSOR STANDS
We run our own business on it, see the result, and then offer it.
The platform behind Tensor SPC was not built for Tensor SPC alone. The same platform is offered to generators and aggregators as Tensor Cloud, and it is what our aggregation service runs on.
The same platform: Tensor CloudThe platform →Aggregation →In Tensor SPC, Tensor operates the assets and is also one of the equity holders, standing where the other investors stand.
RENEWABLE INVESTMENT
Let the plant go, or keep holding the business?
Take the consideration now by selling, or keep the asset and take what it earns. Either way in, we are glad to talk.
Tell us about the deal.
Succession or a sale, an asset you are working on, or the equity and debt behind one. Start with a message.
Talk to us