Will EPC contracts provide for the handover of a solar facility?
EPC Contracts will not provide for the handover of the solar facility to the Project Company, and the PPA will not become effective until all commissioning and reliability trialling has been successfully completed.
Should you choose an EPC contract for a solar project?
Given the significant monetary value of EPC Contracts, and the potential adverse consequences if problems occur during construction, the lowest price should not be the only factor used when selecting a Contractor. As noted earlier, an EPC Contract is one of a suite of agreements necessary to develop a solar project.
What happens if the EPC contract is uncertain?
Any uncertainty in the EPC Contract may unfortunately see the Contractor liaising directly with these third parties and possibly risking the relationship of the Project Company with key influencers, customers and long-term neighbours.
What are the disadvantages of an EPC contract?
Another major disadvantage of an EPC Contract becomes evident when problems occur during construction. In return for a guaranteed price and a guaranteed completion date, the Project Company cedes most of the day-to-day control over the construction.
What is an EPC project?
EPC projects that are also known as ‘turnkey’ and as the contractor assumes responsibility for engineering services, procurement of materials, hiring of teams and materials, and execution of the work, among other tasks, to deliver the project ready to be operated by the client by a given deadline and with a number of guarantees.
What if the installed DC capacity is less than the guaranteed DC capacity?
The Contractor guarantees that the Installed DC Capacity will be no less than the Guaranteed DC Capacity and will be liable by way of PLDs an amount of [ ]% for each 1% (pro rated for part thereof) by which the Installed DC Capacity falls short of the Guaranteed DC Capacity.
EPC contracts in the solar sector
The Project Company needs only to turn a key to start operating the facility, hence EPC Contracts are sometimes called ‘turnkey’ construction contracts. The Contractor must deliver the
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