Wind and solar development are increasingly being combined with battery storage in what is called “hybrid” development. Nathan was retained by a major independent power producer with plans for a large wind/battery hybrid development. Working with other team members, we conducted an in-depth analysis of the development economics, assessed the impact on the local utility customers, and evaluated the terms and conditions of a potential power purchase agreement. Key issues included investments needed to maintain grid stability, future prospects for fossil and renewable generation, and the avoided cost of the development’s capacity and energy contribution. The analysis is being used to finalize the design and financial agreements for the development.
In a world of intermittent generation, hydro investment and operation is becoming even more important. Nathan was retained to conduct technical, economic, environmental and financial due diligence on a large hydro and transmission development. Our work focused on an independent evaluation of the concession permit, production forecast, milestones, performance guarantees, revenues and expenses of the project, based on analysis of the market environment and the construction, operation, compliance, insurance, and commercial plans. Based on our analysis, the project successfully issued a highly-rated public senior secured bond and construction was completed. The plant has since been operating successfully.
Speaking of work by Nathan experts, a power industry CEO noted that our “analysis revealed the pros and cons of alternative plans much more clearly than before. The default plan turned out to be among the least preferred – expensive and risky. And a previously-controversial plan turned out to be preferred – the most cost-effective and least risky. We and our Board enthusiastically adopted this preferred plan. In hindsight, this saved our customers millions of dollars.”
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