ORTECH has extensive experience in performing due diligence services in North American markets.

Following are highlights of some recent US due diligence projects.

ORTECH has provided technical due diligence services for a European utility interested in acquiring existing assets covering several US states. We were the technical advisor in the acquisition of the US and Canadian wind, solar and hydro assets of Clean Power Income Fund by Macquarie North America and other institutional investors.

ORTECH has provided technical and financial advice on bid submissions in several US states. We have evaluated financing options using the US Federal Production Tax Credit and the Modified Accelerated Cost Recovery System, including various “flip structures” designed to enable private developers to direct tax incentives to tax equity investors. ORTECH has prepared reports on US regional Wind/Solar/Hydro markets for Canadian investors and developers entering the US market, including a review of regional markets for renewable energy certificates and state Renewable Portfolio Standards.

Green Field Development

• Review of material project design assumptions, and feasibility studies of energy yield expectations
• Review of recent wind data, and validation of long-term energy output assumptions
• Review of operating costs, future operating costs, and equipment life expectancy
• Review of operating costs, cash flow, and debt service related to loan agreement
• Review of environmental issues, permits, and regulatory compliance
• Preparation of a wind/ solar/hydro resources assessment study
• Project uncertainty analysis

Mature Wind/Solar/Hydro Projects

• Review of material project design assumptions, and feasibility studies of energy yield expectations
• Review of project operational data, and assessment of equipment performance
• Review of recent wind/solar/hydro data, and validation of long-term energy output assumptions
• Review of operating costs, future operating costs, and equipment life expectancy
• Technical review, comment and advice on purchaser’s bid and financial model assumptions
• Review of as-built drawings, completion inspection reports and asset deficiencies
• Review of material contracts (PPA, PTC, operations and warranty contracts, leases, transmission)
• Review of environmental issues, permits and regulatory compliance
• Preparation of wind/solar/hydro resources assessment study
• Project uncertainty analysis
• Review of mechanical condition (completion reports and asset deficiencies)
• Review of O&M contract
• Review of operating costs, cash flow, and debt service related to loan agreement
• Terminal value estimate