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In this case study, explore how Adapture Renewables, a utility-scale solar and energy storage project developer, owner, and operator, overcame finance and accounting challenges to achieve rapid growth.
Facing the complexities of the renewable energy business, Adapture Renewables sought a solution that would support their scaling efforts without compromising quality.
By partnering with Scrubbed, they found a strategic outsourcing partner that provided comprehensive accounting, tax support, and financial planning services. The collaboration resulted in improved efficiency, enhanced visibility into asset performance, and the ability to focus on strategic tasks crucial for Adapture Renewables' continued success in the industry
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Renewable Energy Businesses Face Complexities of with Rapid Growth
- Managing unique financing arrangements such as sales leasebacks, partnership flips, and inverted leases, requires specialized knowledge and expertise
- Challenges of finding accounting and finance employees with in-depth knowledge of the renewable energy sector
- Managing rapid growth: each new project undertaken by the company requires the creation of a new company and maintaining a separate set of books
What you'll learn:
- How strategic outsourcing can be an effective solution for handling finance and accounting challenges during periods of rapid growth - and how to scale operations without compromising on quality
- Comprehensive performance tracking: how developing a comprehensive dashboard allowed the company to track key accounting numbers and implement effective tracking mechanisms
- How outsourcing finance and accounting functions allowed the VP of Corporate Finance and Treasurer to have greater bandwidth to focus on the company's growth
About the author
With 12 years of experience in accounting, James is an expert in various aspects of the field such as taxation, contracts and pricing, billing and settlement, intragroup, joint venture, and nonprofit accounting. He has previously worked for IBM and Shell, where he gained invaluable experience before joining Scrubbed. At Scrubbed, James has played a crucial role in helping social enterprises with their COVID-19 PPP loan and forgiveness applications during these challenging times. James holds a Bachelor's degree in Accounting from Holy Angel University and is a licensed CPA, He is also a Lean Six Sigma Greenbelt.