Summit’s size and independence are important to its strategy. Summit is large enough to take on any project, but due to its optimized staffing levels, the company is not burdened with large overheads. Summit is closely held and therefore not required to burden its project cost structures with expensive investor return requirements. In some cases, Summit may be retained, on a success fee basis, solely to perform a limited scope such as equipment procurement and contracting, off-take marketing or financing. In these circumstances, Summit seeks to work seamlessly with the existing team on the project to bring it to completion at low risk and high return for the project sponsors and/or investors as a whole.
Examples of the ways Summit provides value include:
For a utility: The ability to satisfy regulatory or other constraints with a build transfer model where Summit bears the development risk for the project while allowing the utility to control the course of development and to take ownership at commercial operation or sooner.
For an industrial load: Development of a necessary resource, complete with off balance sheet financing, marketing of unneeded byproducts and long term O&M and asset management.
For a developer: Completion of financing and off-take marketing, including the addition of risk development capital from Summit itself.
For an investor: Opportunities to invest in “de-risked” power development projects (owned solely by or in partnership with Summit) that have successfully completed development including having obtained power purchase agreements.
For an operating project owner: A one stop solution for asset management including site management, O&M management, accounts payable and receivable, permit compliance, financial statements and project accounting, managing project tax and audit requirements, and federal and state incentive grant management (ARRA, state renewable funding grants and the like).
For a new technology company: A comprehensive partner to bring new technologies to market by providing access to capital, technology validation, business planning, large partner access and “first project” development capability.
Each Summit project is staffed by a custom designed team from within its top-tier group of industry experts, including experienced full–time employees and specially–retained expert consultants, providing the best expertise at the lowest cost. Summit’s staff is made up of diverse and highly experienced energy industry professionals with significant industry experience and an extensive network of relationships and knowledge of the energy sector in the United States and abroad. The Summit team includes senior level individuals drawn from top tier investment firms such as Merrill Lynch, significant political and public policy roles such as former US Secretary of Energy and Interior and COO of Energy and Under Secretary of Interior, former Bonneville Power Administrator and former director at the National Commission on Energy Policy, major energy focused law firms, senior executive positions within investor owned utilities including PacifiCorp, Austin Energy, and Avista, and from the broader energy market including from Calpine, LS Power, Siemens, Sithe Global and Texaco among others.