FAQ Library

An owner's engineer is an independent technical advisor who acts on behalf of the project owner. Typical responsibilities include reviewing designs, supporting procurement and contract negotiation, monitoring construction quality and progress, witnessing testing and commissioning, and helping the owner manage technical risk so that the asset is delivered to the required standard.

Technical due diligence is an independent review of the technical aspects of a project or operating asset. It typically examines the technology, design, resource and energy yield estimates, grid connection, permits, contracts, construction status, performance history and key risks. The findings inform investment, acquisition, financing or refinancing decisions.

Energy yield is uncertain, so estimates are expressed as probabilities. The P50 figure is the central estimate, expected to be exceeded half the time. The P90 figure is more conservative and expected to be exceeded ninety percent of the time. Lenders often use P90 or similar exceedance levels to size debt prudently, while equity investors may focus on P50.

Bankability reflects how confident lenders and investors are that a project will perform and repay finance as expected. It depends on factors such as credible resource and yield estimates, proven technology, robust contracts, a secure grid connection, sound permitting, an experienced delivery team and a well-understood risk profile, often validated by independent technical review.

Both are independent technical advisors, but they act for different parties. An owner's engineer represents the project owner's interests through design, procurement and construction. A lender's technical advisor represents the lenders, focusing on bankability, technical risk, construction drawdown verification and ongoing compliance with loan conditions.

Independent technical advice adds most value when engaged early, before key decisions are locked in. It is commonly used at feasibility, before financing, during procurement and design review, throughout construction and commissioning, and during operations for performance, refinancing, repowering or life extension decisions.