Diligence Documentation

At Wunder, we do our best to make sure that we are only requesting information that we absolutely need at each stage of the process. Our review process is split into multiple steps so that if there is an obvious red flag in your application, we can identify it right away.

Below you will find a list of the information that we require at each stage of the review process. While this list is comprehensive for most projects, Wunder may need to request additional information or documentation to complete the diligence process. Documents can be provided by the borrower or by the Wunder Partner.

Initial Review

In order for Wunder to successfully complete an initial review of your project, a Project Submission is generally all that is needed. If you leave a note about additional nuances or the information that you have provided doesn't match up, you may get an email requesting clarification before receiving your Preliminary Offer. Login to submit an application. For more information about the submission process see Submitting a Project for Financing

Project Diligence

As you might expect, the diligence phase of the process is when most of the documentation is needed. If your project reaches this phase and you do not have some of the requested information, please let us know as soon as possible so that we can determine whether exceptions can be made or if we'll need to wait until those documents are available before proceeding. 


Project Documentation

Panel & Inverter Info


  • We need information about the quantity, brand, and model of panels and inverters being used on the project. 
Site Consumption Data


  • This is only required for behind-the-meter systems. For site consumption data, we are seeking documentation which provides proof of utility account associated with the project site, including current rate and annual consumption history. We prefer 15-minute interval data but will accept alternatives if unavailable.
Engineering Designs


  • Please provide line drawings and other engineering design plans outlining details about the expected system. Note: final as-built drawings will be requested later in the process
Construction Contract


  • Executed contract between the purchaser of the project and the EPC or prime contractor. 
O&M Agreement  
  • Executed contract between the purchaser of the project and the EPC/Installer detailing ongoing operations and maintenance for the project.
PPA Agreement (if applicable)


  • Power Purchase Agreement (or Lease Agreement) between energy customer and borrowing entity. 

Site Lease/ Property Docs  (if applicable)


  •  Depending on the ownership structure of the project and the entities involved, Wunder may need to see proof of property ownership, proof of site access, or a tenant agreement. 

Community Solar Subscription Manager Contract
(if applicable)


  • Contract agreement with community solar subscription manager who will be providing on-boarding, billing, and subscriber management services.

Community Solar Subscriber Contract
(if applicable)


  • To better understand the nature of the subscriber agreement, including billing and termination penalties, Wunder reviews community solar subscriber agreements. If there are none executed at the time of diligence, an example contract will suffice.

Proof of Insurance

  • Wunder requires proof that the system is properly insured. A certificate of insurance, with Wunder listed as a named insured must be provided. 


Entity Information

Note: depending on the structure of the project, this list applies to any Borrower, Off-taker, or SPV Manager involved in the project.

Financial History


  • Three years of financial history provided in the form of P&L statements and annual tax returns.

Outstanding Debt Form


  • Detail about any debt payments currently being made to any other lenders. 

Formation Documents


  • Certificate of incorporation, certificate of formation or similar documents filed with the secretary of state. This request also includes any documentation recording legal name changes since formation. 

Operating Agreement


  • Any document created by Manager that sets forth rules of governance and equity ownership. This requirement can also be fulfilled with 'Company Bylaws' or 'Organizational Authority'.
  • Any entity that is going to be receiving or sending funds to Wunder over the course of the loan will need to provide evidence of their IRS assigned TIN. An SS4, W-9, or 1099 will all satisfy this requirement.


Contractor Information

Entity Data Form  
  • At the very least, any organization that is playing a developer or prime contractor role in the project will need to fill out a Partner Application.
Subcontractor Roles  
  • We'll need some more information about who is performing which work on this project. The Subcontractor Role Form is attached to this 

Community Solar Subscription Manager 
(if applicable)

  • We'll also need some information on the community solar subscription management plans - whether managed by a third-party or by the developer in-house.
  • As noted above, we will need EIN/TINs for any entity that will be sending or receiving funds.



There are usually a number of documents that need to be provided after contracting and before capital disbursement. These tend to be more "checklist" items than diligence documents. Sometimes, exceptions can be made to allow certain missing diligence documents to be provided after contracting. See the Capital Disbursement article for more information about disbursement conditions (i.e. "Conditions Precedent").

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