Life Without Orennia
Major Milestones Wrapped
After 3 years, the developer for a 100 MW battery project has completed site control, interconnection, permits and signed a resource adequacy contract.
Tax Equity Financing Needed
As a final step, tax equity financing is needed before the developer can flip the project and be paid their $20 million developer fee.
Lengthy Due Diligence Process
To secure the tax equity financing, due diligence is required. The process with a third-party consultant takes three months to produce revenue estimates across energy arbitrage, ancillary services and capacity revenue. But the investor needs more context on battery operation assumptions and price forecasting methodology to feel confident in the project.
Financing Isn't Approved
The tax equity investor isn't confident in the forecasts or assumptions they were based on. Unfortunately, the tax equity financing isn't approved. The developer is back at the drawing board, searching for new investors.
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Life With Orennia
Major Milestones Wrapped
After 3 years, the developer for a 100 MW battery project has completed site control, interconnection, permits and signed a resource adequacy contract.
Tax Equity Financing Needed
As a final step, tax equity financing is needed before the developer can flip the project and be paid their $20 million developer fee.
Efficient Due Diligence Process
The due diligence process with Orennia leverages detailed energy price forecasts backed by data. The teams spend an hour on a call with subject-matter experts to talk through inputs, models and assumptions. It's fast and easy to understand the long-term revenue potential of the battery project.
Financing Is Approved
The tax equity investors get a clear view of the assumptions behind the forecasts, including percent of perfect foresight to understand project risk. They are confident in the analysis and approve the tax equity financing.
