Sectors
Thermal Generation
We create optimized solutions to enable financing of greenfield projects, M&A and refinancing of operating merchant assets. Snapper’s work often results in a significant improvement in sponsor returns. Snapper’s principals have advised on and executed on hedges for over 10 GW of new build and existing gas-fired generation capacity in ERCOT, PJM, MISO and ISO-NE.
Wind
Snapper’s principals have structured and executed revenue contracts for more than 3 GW of merchant wind projects in ERCOT, SPP and PJM. Our creative structuring has allowed sponsors to optimize the capital structure between debt and tax equity, while keeping significant upside in outer years. More recently, Snapper has been involved in a first-of-its kind wind hedge restructuring to reduce shape and volume risk which in turn enhances sponsor economics.
Solar
Snapper structured the first ever bank hedge for a merchant solar project in 2018. Forbearance, collateral and other commercial structures pioneered by Snapper have now become industry standard. Snapper continues to lead the way in advising merchant solar projects in ERCOT, CAISO, PJM, NYISO and other markets. Snapper has enabled approximately 2 GWac of merchant solar projects to successfully raise financing thus far.
Storage
Snapper is leading the way in creative hedging and offtake solutions for a nascent and evolving battery and bulk storage market in the various ISOs in the US. A key focus for us is to account for current and future policy and protocol changes that might impact the revenue and dispatch potential of batteries. In addition, Snapper has worked on long-term offtake solutions for long-duration storage projects in the US.
Midstream and Downstream
Snapper has applied its knowledge and experience of structuring bespoke derivatives in the electricity markets to the midstream and downstream oil and gas markets. Specifically, we have structured OTC revenue solutions in support of development of a 30+mm bbl crude oil storage facility, a 250k bbl/d crude export facility on the US Gulf Coast, and a mega methanol facility.