Buyers Need an Owner’s Engineer in this Sellers’ Market

At Pure Power, we’re dedicated to helping buyers navigate the complexities of solar asset acquisitions by offering comprehensive Owner’s Representative and Independent Engineering services. Our expertise lies in conducting thorough technical due diligence and ensuring seamless operations, which allows you to concentrate on the financial and strategic aspects of owning and acquiring assets.  The current solar energy landscape is buzzing with activity. There’s an unprecedented influx of capital chasing after solar projects, leading to a seller’s market where assets are fetching top dollar. While paying a premium might be acceptable for a well-de-risked project, it’s crucial not to dive into competitive bidding scenarios blindfolded. You must have a clear understanding of the technical and operational risks involved. If you're considering purchasing a project with known technical challenges, you have two primary options: 1. Request that the developer addresses these issues prior to your acquisition. 2. Factor these concerns into your purchase price and set aside a budget to address them post-purchase—a strategy often recommended to ensure proper resolution. Most new construction projects we review are generally sound, but they usually require some adjustments before we clear them for our clients. On the other hand, older assets (those five years or more) pose greater risks. Installers back then were still learning the ropes, and many systems lack the craftsmanship and adherence to best practices seen in newer installations. For instance, the quality of a system installed in 2019 far surpasses that of one from 2014 or earlier. Many older assets are ticking time bombs, with critical components nearing the end of their warranty periods. If you’re eyeing such an asset, our Owner’s Engineering services become indispensable. Every once in a while, we come across solar installations with glaring technical flaws being marketed as high-quality systems. It wouldn't surprise me if some unscrupulous entities are rushing through installations just to capitalize on the demand. Such systems should be avoided, regardless of how steeply they’re discounted. In conclusion, Pure Power’s Owner’s Engineering services empower buyers of solar assets to fully grasp the embedded technical risks. Typically, buyers excel in the financial aspects of a project, and with our technical know-how, you can approach your solar project or portfolio acquisition with confidence, secure in the knowledge that your financial models are robust and realistic.

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