Cowboy Energy

We Mean Business

Our Mission

The US solar industry

The US is in the midst of transforming of its energy industry – from fossil fuels to renewable energy to support the electrification of many sectors.

The current global development provided additions impetus to current trend which was supported by the competitive cost of renewable energy (wind and solar mostly) and generous support by the US administrations (on a bi partisan basis). The message is clear – triple the amount of installed solar plants (currently about 125 Gigawatts). Fortunately, the US still has plenty of uncommitted land which can support such major expansion. Another positive incentive is the fact that the power rates are going up all over the world (including the USA). A result of increased cost of coal and natural gas. To that end, the current administration pushes a huge investment program in the aging transmission network to allow the electricity to flow from the generation sites to the load pockets.

Our Approach

We believe that to be successful in this endeavor, we need to differentiate our approach from the conventional approach of similar developers

  • Focus on the early-stage phase – while the risk is the highest, so is the return. Case studies from the industry indicate a MOIC (multiple on Invested Capital), which could be as low as 3 and as high at 6-7.


  • Contrary to the conventional joint venture arrangement between the original developer and the financing entity, we are committed to invest our own funds along with the financing in our projects. Hence, we have our “skin in the game” along with the other stakeholders in our projects.
Our criteria for selecting appropriate sites. We are presented with many opportunities to secure leases all over the Country. We have our set of criteria to commit to only those opportunities which have the highest prospects to be developed successfully. Among the items we consider:
  • Feasibility of interconnection
  • Interconnecting operator and transmission owner
  • Quality of land including for solar resources.
  • Preferably private land
    Willingness of owners to lease at FMV
  • Friendly Counties
  • No “red flags” regarding permits and licenses
  • Bankability – quality Off -Takers and market power rates

The Team

Hezy Ram

Managing Member

Hezy spent over 20 years in the US developing and financing geothermal projects. He is responsible to about 500 MW of operating facilities in the US, representing about $3 Billion of different financing schemes: equity, debt (private and public), tax equity and more. He negotiated a dozen PPAs. Later he developed a 72 MW geothermal power plant in Nicaragua and raised about $300 million in Project Financing.

Paul Stroud

Development Manager

Paul Stroud is a Professional Engineer with many years of experience in the field, developing energy projects in the US and all over the world. His expertise is as project manager focuses on design, budgeting and later the execution of the various projects.

Alan Brand

Asset Manager & Secretary

Alan Brand has been an investor and General Partner in partnerships which acquired large multi family residential real properties in multiple states, as well as a real estate investor for his own account. Alan was also CFO and fundraiser of a commercial real estate development company dealing with private investors, financial institutions, property owners, lawyers and governmental entities. Alan is also a certified tax professional with years of experience in structuring and forming corporate, partnerships and LLC entities.

Izake Lotan

Israeli Capital Markets

Vast execution experience as a CFO for private and public technology and assets’ management global corporations. Rich financial knowledge, experience, and international networking with particular expertise in Growth Financing (Debt, Equity and M&A’s) and Assets’ lending (Shipping, Aircraft, Real Estate and Energy). “Hands On” entrepreneurial background and spirit, currently serves as Chairman for the biggest Israeli Processing Engineering Group (1100 Employees, most of them are engineers).

Lee Rigney

CFO (real function comes at financing) *

Lee Rigney is an authority in the US in financing solar projects and other RE power plants. He is a renowned expert in the tax equity field. Lee’s prior jobs including stints at BNP Paribas and a founder and GM of Capstar Capital which was owned by LTCB

Stu Johnson

Development Manager -
West Coast *

Stu Johnson has some 40 years’ experience in the RE arena. While as a geo chemist, he focused on the geothermal industry while at Ormat Technologies, his responsibilities included dealing with landowners and managing the permitting process for various projects, both on private and Federal land.

*Not partners at Cowboy Energy, LLC but part of the management team

Our projects

Goshen Solar

  • Location – Goshen County – Wyoming.
  • Lease signed with one owner for 1,200 acres. Lease term is 35 years. Potential expansion.
  • Rating – 163 MW facility (storage optional).
  • Survey of the land was performed, and an initial title insurance policy was issued with no cloud on title.
  • Application for LGIA (Large Generator Interconnection Agreement) was filed with Tri States and accepted. Execution of agreement expected by June 2023
  • Start permitting process (well defined in Wyoming and a friendly county).
  • Seek off-takers for the project.

Morton Solar

  • Location – Morton County – Kansas.
  • Term sheets signed with 3 landowners – 400 acres in total.
  • ICF performed capacity study – 80 MW is feasible.
  • ICF performed initial interconnection study – good location to evacuate the power to several buyers. The ISO is SPP (Southwest Power Pool).
  • Next step – start the permitting process – friendly County and no “red flags”.
  • File the LGIA with SPP and start the related studies.
  • Secure Off Takers. Area is served by Sunflower Electric Power.

Lahontan Solar

  • Location – Churchill County, NV
  • Landowner – Truckee Carson Irrigation District (TCID)
  • Area to be leased – 500 acres
  • Potential power production – 100-120 MW
  • Power Company – NV Energy (a subsidiary of BHE)
  • Status – Term Sheet is being negotiated with TCID
  • Initial power delivery capacity – 25 MW

For any inquiries please email

All rights reserved to Cowboyenergy LLC 2022