BerQ Renewable Natural Gas
Problem
BerQ financed its portfolio of RNG projects with the issuance of a municipal bond using public private partnership structure. To secure draws against the bond, BerQ needed its financial model reviewed and updated.
Constraint
The flow of funds cemented in the bond documents were densely structured and obtuse. Before securing a clean bill of health from its finance partner in advance of the draw, BerQ needed to add substantial additional waterfall logic.
Solution
Orbis set to work in BerQ's existing financial model, connecting the waterfall outlined in the bond documents directly to the financial statements. Orbis then set its model audit team to work to review the newly updated structure and helped BerQ secure the bond draw required to fund its aggressive development goals.