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Solar Due Diligence and Bankability

Investing in a renewable energy project or portfolio is a complex endeavor that requires an extensive evaluation effort. Understanding the inherent technical risks of a project is a critical facet of this effort, and the conclusions of this evaluation will allow you to ultimately decide if the return is worth the risk. Our engineers work in lockstep with you and maintain regular communication as we evaluate your project. With millions of dollars on the line, you can’t afford to have questions go unanswered. When it comes to designing your renewable energy project, estimating its energy production, and securing its financing, you want an experienced technical advisor with deep technical knowledge and credibility with banks and investors.

 

Independent Engineering 

As a lenders’ Independent Engineer (IE), GRL, in partnership with UL, applies technical and commercial expertise to address project risks and propose mitigation, making financial close as smooth as possible. With extensive experience and a sound reputation as a renewable energy IE with some of the world’s leading arrangers and lenders, we combine technical experience with an understanding of the intricacies of project finance to proactively evaluate projects for financing.

 

Project Overview 

  • Site Layout
  • Initial Site Visit

Energy Production Report

  • Energy Production Report Summary
  • Energy Loss Review

Technology Review 

  • Solar Site Suitability

Balance of System Design Review 

  • Foundation and Geotechnical Design Review
  • Electrical Design Review

Third Party Curtailment and Congestion Summary

Contracts Review

  • Power Purchase and Hedge Agreements
  • Interconnection Agreements
  • Equipment Supply Agreements
  • EPC Contract/Balance of System Contracts
  • EPC Performance Guarantee
  • Schedule and Scope Agreements
  • O&M and Asset Management Contracts
  • Shared Facilities and Co-Tenancy Agreements

Environmental and Permitting

Financial Assessment

  • CAPEX Review
  • Operating Assumptions Review
  • OPEX Forecast

Construction Monitoring

  • Progress Report Review
  • Construction Drawdown Verification
  • Construction Monitoring Site Visits

Technical Advisory

Differently sized investments require different levels of review. We offer guidance on the best path for due diligence, and identifies the critical risks. Our project evaluation strategies are adaptable for the specific nature and size of the project.

Energy Resource

  • Pre-Construction Energy Production Estimate and P-Tables
  • Operational Energy Production Estimate and P-Tables
  • Third Party Review of Pre-construction Energy Estimate
    Review of Preliminary Layout
  • Site Inspection and Review (Environmental, Jurisdictional, Other)

Technology and System Design

  • Technology Review (Modules, Inverters, Mounting Structures and System Integration)
  • Equipment Suitability Assessment Based on Climate Conditions
  • Assessment of Extended Project Lifetime (Technical Failure Risk, Longevity, Contract Extension Review and O&M Projections)
  • Balance of System (BOS) Design
  • Civil and Geotechnical Review
  • Electrical Design Review

Warranty and O&M Review

  • EPC Contractor Agreement (Equipment Supply and Performance Guarantee)
  • O&M Agreements
  • OPEX Costs