Project Evaluation and Transaction During Solar Development
Solar PV project due diligence and evaluation are key aspects of any investment. A thorough evaluation of all aspects of the project, such as:
• Land agreements
• County and city permitting
• Interconnection agreement status and viability
• PPA and SREC status and strategy
• Financial output and costing analysis for the life of the project
• Overall status of the developer and project are all performed within one experienced group at SLP
This work is performed both for the developer desiring new investments to complete his project, and for investors/ IPP owners that are evaluating proposals sent to them. The complexity of the US and California markets makes it necessary to have experts in this field, and SLP has performed this effort for the successful transactions of over 500MW in California and the US in 2012 alone.
Our services include the preparation of detailed due diligence evaluations of all aspects of a solar farm consulting project for our clients. This can include the budgets and necessary steps for taking this project to completion.
In addition, we provide the development consulting services needed by the new owners to take the project to the successful construction phase, serving as their virtual development team. The services shown below are all available to our clients in this development service model.
We have seen it time and again. The developer tries to get their project funded and keeps getting rejected, and they can't figure out why. They have been working on the project for over a year, and everything would be perfect if they could get the construction funding, and/or bridge loan to get going. Solar Land Partners, Inc specializes in helping developers bring a project to bankability. Our team has the financial expertise to rework your project financials, so they meet the expectations of the various parties involved in helping a project reach the finish line. Additionally, Solar Land Partners, Inc has the industry contacts to help find a lender for the project. We work with groups that are funding billion-dollar projects and have the savvy to get your financial house in order.
The construction phase is the most expensive part of a solar farm development consulting project. This is the time when you can make or break a project. Logistics are critical when large installation crews and equipment are involved. Many developers think their cousin who has a solar company can do the work after all how hard can it be...wrong! First of all, the interconnection application will be rejected by the utility if they are not both comfortable and familiar with the EPC company. Secondly, the cost of the project will not fit any financial model. Thirdly, no one will finance your project because they are all too familiar with cost overruns and other project killers. Solar Land Partners, Inc has the right relationships with best-in-class EPC companies to make sure your project is accepted and completed on time and within budget.
The EPC contacts Solar Land Partners, Inc enjoy round out our competency and provide a complete package of solar farm development consulting services. If you are an investor looking to find a project and want to make sure it pencils, or you are a project developer whose project is stuck at some point, now is the time to contact Solar Land Partners, Inc to learn how we can help get your project back on track and across the finish line.
One of the most important first steps is one that is fraught with potential errors. One must keep in mind that the utility is not that interested in working with you beyond the mandates set through the legislative or executive process. The utility wants to make sure that they are working with a team of professionals for several reasons. First, they are entering into a 20-25 year contract. Secondly, they have the responsibility of providing a stable and reliable energy supply. Lastly, their business is energy production, and if they have to share it, they want to be sure that it is with teams that are as professional and dedicated as they are. Solar Land Partners, Inc approach the interconnection application with extreme due diligence. We make sure the application is completed in a manner that fits with the internal process of the specific utility. This is only possible through extensive experience and understanding of the specific utility.
Conditional Use Permit Process
"The permitting is driving me crazy and if only the planning department would work with me, everything would be great." That is the frustration of many solar project developers. The planning and building departments speak their own language and operate within a tightly orchestrated set of rules. If you understand how the process flows and how to navigate the potential pitfalls, your permitting process will run smoothly. If you mismanage the process from the start, you can find conditional use permitting to be quite elusive. Solar Land Partners, Inc has CUP specialist to help take your solar farm consulting project through the process and gain CUPs to demonstrate project viability for PPA negotiations and to begin construction.
Don't underestimate the importance of industry contacts and how that affects your project viability with the utility, investors, and banks. Let's say you approach the scoping meeting as a fact-finding meeting. The utility will consider you an amateur, and the prospect of winning a PPA goes practically to zero. Solar Land Partners, Inc approaches the process from an "A-Team" perspective. With the best-in-class partners backing us and a team of experienced executive members, Solar Land Partners, Inc would approach a scoping meeting from an entirely different angle. From the utility's perspective, who would they rather work with for the next 25 years? They will unequivocally prefer a team of industry professionals over an individual who has no experience in power production.