TerraPro Solutions Implements Coronavirus Best Practices to Help Renewable Projects Advance Toward Critical Deadlines
TerraPro Solutions recommends comprehensive risk mitigation strategies to avoid significant delays and cost overruns, with proactive steps that can be taken now to protect renewable project development timelines.
In the midst of this expanding public health crisis, TerraPro Solutions understands the uncertainty that this news has triggered for us and our families. While safety is our first priority, we want to support our renewable energy community in moving forward with their projects. To avoid the potential for significant delays and cost overruns, we highly recommend the following actions:
- Review your pipeline schedule and ensure that contingencies are in place.
- Prioritize all federal agency curative work to eliminate delays. Among federal agencies the timeline for review and approval of curable documentation including subordinations has grown from 5 months to 12 months+.
- Act now to mitigate all manageable delays to eliminate lender issues. Lenders are taking a cautionary view of exposure for materials delivery and the potential inability of projects to meet critical PPA and tax credit deadlines.
- Consider carefully how you negotiate contractual scheduling and timing risk. Overseas deliveries may resume, however, US EPC/construction timelines, already constrained due to tax deadlines and timetables, may now be at risk as quarantines are imposed at state and local levels. This can result in increased costs and scheduling challenges for materials delivered to sites causing schedule safeguards to quickly evaporate.
“Preparation can prevent a crisis,” states Kimberlee Centera, CEO, TerraPro Solutions. “Our team is ready to help project developers successfully navigate these challenging times.”
About TerraPro Solutions:
TerraPro Solutions, a leading risk mitigation renewable energy project development consultancy has generated over 10 GWs in Solar, Wind, and Energy Storage. With a total financed value of over $6 billion, it is the top development consultancy in the renewables market. TerraPro Solutions provides high-level expertise in the development and implementation of renewable energy projects. Comprehensive services range from site feasibility and land acquisition to due diligence for investment and financing, through construction, compliance and post-construction operations.
TerraPro Solutions’ risk management process includes in-depth risk reviews and comprehensive analysis as well as training and coaching that empowers project team members to make informed decisions about risk management. For more information contact Annemarie Osborne 949-237-2906 [email protected] or Vanessa Faucher 858-573-2000 [email protected] or visit http://terraprosolutions.com/