Overlay Illinois: repeat workflow, high build threat

Three public Illinois distributed/community-solar interconnection-deposit facilities closed from March 25 through April 13, 2026 with the same named Overlay deal team. That is strong recurrence evidence—but not buyer value.

Why this matters

The cohort is the current first operational/control-seat falsifier because it combines same-provider, same-state, same-category recurrence. Overlay also publicly describes tariff analysis, queue sequencing, deposit erosion mechanics and sponsor review as part of its underwriting, creating a high internal-build/control-seat threat.

Advance gate

Advance only if a common factual control object exists across the Illinois facilities and a material separable layer is still independently rebuilt, reconciled or accepted with measurable reviewer effect.

Stop gate

If Overlay already owns exact project/process/security state cheaply, kill the direct lender route. Do not build an Illinois adapter until financed utility/process membership is explicitly bound.

Public facility count, team continuity, MW/site context, Part 466 adjacency and underwriting descriptions are $0 buyer-value inputs.