Sculler Defined

The Sculler group of companies includes a number of entities that, in total, represent a self-funding investment firm. We structure investments, typically using debt and other instruments, on behalf of private and institutional investors.

The first investments built and managed by Sculler were in securitised commercial real estate debt (CMBS). In 2008, Sculler became a manager for a group of funds that purchased Canadian CMBS from US banks. In the following years, the same group of funds purchased other debt instruments which included a subsidiary of a US bank that had more than $250 million of CMBS assets. The capital used was raised privately and the transactions were negotiated directly with US financial institutions. The majority of these assets have been sold for multiples of the purchased price. This type of complex investment (structured mortgage debt on real estate assets) has many similarities with financing renewable energy assets. The ultimate objective of Sculler Energy Corp. is to bring the same disciplines required in real estate syndication to capitalising solar assets.

In the years following the purchase of debt instruments from US banks, Sculler became active in the solar energy industry in Ontario. Sculler created business relationships with a number of solar contracting firms. Its roll was to function as a capital provider (investing with both debt and equity), developer, and owner/operator of ground- and roof-mounted solar projects in Ontario. To date, the firm manages one of the largest portfolios of MicroFIT projects owned by a single corporate entity in Ontario, and has developed an expertise in the funding, development, and ownership of commercial-sized roof-top and ground-mounted solar projects. Through Sculler’s hands-on approach, a working relationship has been developed with relevant government and local distribution companies in Ontario.

  • With a fresh perspective and several years of corporate history, Sculler has an impressive track record of success, superior returns and skillful risk management.
  • The company often took a contrarian view of the opportunities and pursued projects against the market, realizing superior returns in difficult niches.
  • Superior risk management and focus on value creation allowed the Company to achieve very attractive rates of return for equity holders.

CMBS (Canada & USA)

  • Sculler pursued an exceptionally lucrative opportunity against the market.
  • Bought Canadian CMBS securities from US banks during the 2008- 2009 crises.
  • Face Value greater than $320 million was bought for over a 75% discount.
  • Returns realised: Greater than 380% over a 3.5 year period (over 108% per annum)

SOLAR PROJECTS (Ontario)

  • During 2010-2016, Sculler created one of the biggest solar portfolios in Ontario, while many local companies in the industry went out of business.
  • The solar portfolio exceeds 350 sites.
  • Electricity generated is purchased by local distribution companies at fixed rates under 20-year contracts (guaranteed by the Government of Ontario).
  • Sculler developed in-depth solar expertise (financing, construction & legal aspects).

Sculler-Managed Assets

Smaller-Scale Systems

  • Over 300 facilities are currently owned and under management.
  • This group includes both dual-axis ground-mounted trackers and fixed ground-mounted systems.

10 kW Ground-Mounted Tracker

Rooftop Systems

  • These sites typically range in size from 250 kW to 500 kW AC.
  • Average area taken up on a roof is 1.5 acres or 65,250 square feet.

250 kW Rooftop Project

Larger Ground-Mounted Systems

  • The projects are on 10 acres.
  • Each site has 60 dual axis trackers.
  • Trackers allow the panels to “follow” the sun resulting in higher solar outp

500 kW Ground-Mounted Project with Trackers