Bildmore

Bildmore is a startup led by CEO David Haug, backed by EnCap Energy Transition Fund (EETF), a leader in energy transition private equity investments. The EETF partners and David have a project development background and orientation. We set up Bildmore to help 3rd party sponsors of US renewables projects more efficiently tap into the tax-related incentives under the IRA. Using structuring techniques from tax equity, renewables finance and global power project finance, we provide an alternative for projects and sponsors who want or need traditional tax equity (TTE), but can't meet the narrow TTE criteria, and who are resigned to sell tax credits based on project cost as opposed to FMV. An ideal fit for our structure are ready-to-build utility-scale battery or solar ITC projects with some or a lot of uncontracted offtake/ merchant exposure. Or sponsors where the team members are experienced individually but don't have a strong track record together, or a deep balance sheet to cover long-term indemnities. Our structure includes features from TTE, and from preferred or structured equity investments, with all tax credits optimized and sold and buyers protected by comprehensive tax insurance. we are a good fit for developers who want to maximize third-party debt and equity capital to minimize sponsor equity in any single project. We are very flexible on how losses and other attributes are allocated. We are continuing to grow and looking for a small number of experienced team members attracted to a small fast-paced start-up culture, based in Houston, to help us invest in 10-15 projects annually MW of projects in the next 24-36 months. Bildmore and EnCap executives will be at InfoCast and available to talk more about Bildmore, as well as at upcoming spring 2024 conferences. We look forward to connecting with sponsors (and IBs, legal/ tax advisors and tax credit intermediaries) who would like to explore tax funding alternatives for themselves or their clients.