5 articles
Deal Advisory
The mechanisms, review criteria, and decision patterns that determine how this area is underwritten, governed, and priced.
- 01April 26, 20269 minThe Twenty-Year ESA: Where a 200MW Battery Contract Actually LivesPlus Power's twenty-year energy storage agreement with the Tennessee Valley Authority for the 200MW/800MWh Crawfish Creek battery in Alabama is not a single contract but a stack of sub-mechanics whose internal allocation — augmentation, performance step-down, dispatch optionality, end-of-life liability — determines whether the asset is financeable at all. The headline tariff is the part that journalists read; the augmentation clause is the part that lenders underwrite. The distance between the two is where structural value is won or lost.
- 02April 26, 20269 minWhen the Counterparty Withdraws the Vehicle: New Jersey, the SAA, and the Embedded Political Option in Offshore Wind OfftakeThe New Jersey Board of Public Utilities has requested termination of the State Agreement Approach with PJM — the contractual bridge that allowed a state procurement decision to be socialized as regional transmission cost. The unwinding does not merely retire a procurement vehicle; it surfaces an embedded political-risk option that long-dated offshore wind offtake structures rarely price, and that survives only as long as the state administration that authored the framework continues to defend it.
- 03April 14, 20269 minWhy 960MWh Battery Sales Are Won Before the Process StartsThe sale of the Summerfield Battery shows that large-scale storage is now being priced as an infrastructure asset, not just a growth story. In BESS transactions, valuation is protected long before signing, through readiness, evidence quality, and disciplined deal architecture.
- 04April 13, 202610 minUnderstanding Due Diligence: A Practical Guide for Project Finance and Investment ProfessionalsDue diligence is often treated like a document-heavy formality at the end of a transaction. In reality, it is the discipline that turns a promising investment story into a bankable, negotiable, and executable deal structure. For energy and infrastructure projects, strong due diligence does not just reveal risk; it defines how risk should be priced, allocated, and governed.
- 05April 13, 20269 min806 MW Offshore Wind: Contract Risk Is Delivery RiskWhen an 806MW offshore wind project reaches court and one side says hundreds of millions of dollars are owed, the issue is bigger than litigation. It is a reminder that in mega-projects, contract structure, governance, and delivery discipline are inseparable.