Chris Bailey Email & Phone Number

Sausalito, California, Us

• 38 Degrees North is a sustainable infrastructure investment firm that targets real asset investments with attractive, risk-adjusted returns. • We are a mission-driven company focused on accelerating the energy transition and decarbonization through innovative, programmatic, and flexible capital solutions. • We have underwritten and invested in some of the most complicated and misunderstood energy asset classes including community solar, distributed energy, and battery storage, while continuously evaluating investment opportunities in the broader sustainable infrastructure market. • We partner with developers in an open fashion to establish clear visibility to project value creation.​• We are long term investors and seek sustainable yields over the asset life.​• We seek investments in distributed and wholesale projects across the country. ​• Since our founding in 2015, we have invested in $650M of solar and storage assets across 310MWs​• The partners have a track record of over 3GW and $8B of successful renewable energy project financings with long-standing developer and capital partner relationships.

Oakland, Ca, Us

First big data intelligence marketplace for sustainable smart home improvement projects, such as solar, storage, and efficiency. (company has since pivoted to Zesti.ai - property intelligence for insurance providers) • Closed $5.3MM in seed capital, ~70% from non-dilutive sources, and drove Series A outreach • Managed financial reporting, risk management, compliance, human resources and portfolio of trademarks and IP • Structured and closed innovative venture debt working capital facility with a favorable interest rate and warrants structure• Managed $2.5M of awards from the Department of Energy with performance and reporting metrics• Cultivated relationships with fulfillment partners and negotiated robust certification and origination agreements

New York, Ny, Us

Founding team member of TerraForm Power, a dividend growth-oriented company spun out of SunEdison to own and operate contracted clean power generation assets. • Led the underwriting for the IPO and closed $3B of capital markets transactions.• Led TERP bookrunner negotiations for IPO and complex structuring of contracts between SunEdison and TERP • Drove efficient capital formation by optimizing between corporate debt and equity and non-recourse project financings. • Managed 8 person capital markets team that led underwriting, valuation, portfolio construction, risk management and financings• Led TERP $400M bridge, $300M term loan, $800M HY Green Bond, $550M revolver, $599M IPO, $1.5B Warehouse Facility• Led TERP underwriting of over 808MWs of acquisitions in 6 months prior to IPO and First Wind $2.4B acquisition post-IPO

Vice President, Structured Finance and Corporate Development, North America 2011 – 2013Managing Director, Project Finance and Corporate Development, N.A. 2010 – 2011Various Roles, Project Finance and Corporate Development, N.A. 2007 – 2010As the second employee hired to the project finance team, helped develop many of the first financing structures, underwriting assumptions and capital providers for the asset class. Led team that closed over $5B of innovative non-recourse project financings. • Originated, negotiated, and closed complex project finance debt and structured finance tax equity transactions• Advised SunEdison investment committee with SunEdison CFO and senior management • Managed a 25-person North America Project Finance and Structured Finance team; oversaw the underwriting and financing of photovoltaic energy projects for commercial, government, residential and utility hosts • Closed on over $2B of structured tax equity investments, including some of the first solar investments for investors using sale-leasebacks, direct leases, and levered and unlevered inverted leases and partnership-flips, with Wells Fargo, PNC, HSH, JP Morgan, De Lage Landen, Union Bank, Northern Trust, MetLife, Bank of America, Southern Company, Chevron and others • Closed on market leading project finance transactions and private placements for development, construction, mezzanine and term debt facilities with Deutsche Bank, North American Development Bank, Manulife, Bank of America, Rabobank, New Energy Capital, North Sky Capital, Everstream and others including a $300M construction revolver and $67M development loan

• Assisted portfolio companies with market analyses, strategy development and client proposals• Participated in negotiations with bank lenders, lawyers, sellers and management teams• Reviewed term sheets, legal documents, business books, and valuation models

• Built valuation & operational models to secure $2.25M of Series A funding: SJF Ventures, Calvert, and the Allco Finance Group • Performed due diligence and valuations on acquisition targets; developed projections on market size and organic growth scenarios

New York, Ny, Us

Various Roles, Program Management and Strategic Partnerships 2002 – 2005• Advocated for enhanced public-private sector risk-sharing to finance energy infrastructure projects in developing countries• Vetted and revised proposals from project finance leaders at investment banks, credit rating agencies, and bond insurers on multilateral guarantees for emerging markets to support FX liquidity facilities, rights of recovery, and risk insurance • Facilitated collaboration between the private sector and the World Bank, UN, World Economic Forum and US State Department to coordinate all corporate participation in the UN International Conference on Financing for Development in Monterrey, Mexico• Led a coalition of over 100 NGOs and implemented a national campaign on the UN’s Millennium Development Goals

Mba, Finance, Accounting, Entrepreneurship

B.S., Policy Analysis & Management

Bachelor Of Science - Bs, Policy Analysis And Managment