Former NovaSource Power CEO joins Birch Risk Advisors as Renewable Energy Advisor
Troy Lauterbach will enable clients to optimize renewable energy tax investments and financing structures
NEW YORK, Dec. 19, 2023 /PRNewswire/ — Birch Risk Advisors, a leading global transactional risk insurance broking and advisory firm, today announced that Troy Lauterbach has joined the team as Renewable Energy Advisor. In this role, Troy will advise renewable energy and power developers on project finance matters associated with renewable energy tax equity structures and tax credit transfers. He previously served as Chief Executive Officer and President at NovaSource Power Services, a global leader in solar and storage services for renewable energy assets, where he led over 1,500 employees in 10 countries.
Birch Risk Advisors is led by Steve Bunson, Sheldon Elefant, David Danesh, and Barry Sklar who joins Birch later this month. Birch leverages decades of deal advisory and cross-disciplinary expertise to assist clients in navigating the complexities of tax insurance, tax credit transfers, contingent risk insurance, and representation & warranty (R&W) insurance.
“By leveraging innovation and client focused partnerships, Birch Risk Advisors is charting a new course for how renewables projects are being financed and securitized,” said, Troy Lauterbatch. “Conventional financing parties leverage fee structures and playbooks that optimize for their financial outcome first – instead, Birch focuses on creating the optimal outcome via creative solutions that meet a client’s unique circumstances.”
According to a report by Grand View Research in November 2023, “The global renewable energy market size was estimated at USD 1.21 trillion in 2023 and is expected to grow at a compound annual growth rate (CAGR) of 17.2% from 2024 to 2030.” With the passing of the Inflation Reduction Act (IRA), many companies are scrambling to optimize their tax credit attributes and capacity in connection with renewable energy investments and are turning to Birch’s unique team for guidance on structuring and mitigating risk with tax insurance to provide a holistic strategy.
“Transactional risk insurance has quickly become a must-have as companies adapt to new complexities and regulations as part of the Inflation Reduction Act, such as for example, the significant boost in IRS tax audits and challenges,” said Steve Bunson, Advisory Director at Birch Risk Advisors. “While the landmark legislation provides ample opportunity to benefit from the nearly trillion-dollar investment in increased domestic energy production, understanding the evolving landscape for project finance is crucial.”
A recognized leader and veteran of the renewable energy industry, Troy brings years of experience and a deep understanding of the development, construction, and operational life cycle of renewable assets. Troy serves as Chairman of the Board for Solari, Inc. where he is an ambassador for mental health and advocates for the importance of corporate stewardship in creating awareness and providing resources for employees. Troy holds a BS in Computer Science from Oklahoma Christian University, and an MBA in Business Administration from Colorado State University.
About Birch Risk Advisors
Birch Risk Advisors is a strategic partner to taxpayers and renewable energy market participants, providing sophisticated structuring, tax insurance and tax credit transfer solutions. Our team of experienced attorneys, investment bankers and renewable energy executives leverage decades of deal advisory and cross-disciplinary expertise in serving global investment funds, multi-national corporations, and producers of clean power generation. For more information, please visit https://birchrisk.com/.
