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installation, providing due diligence for either the owner or bank.13 Advisory services like these are typically provided by an experienced engineering, procurement, and construction (EPC) firm or an independent engineering firm. Additional engineering services may be needed once a project has been commissioned, in order to identify system failures or troubleshoot other problems. After the resource assessment process has green-lighted a project site, management consulting and legal services are required for the process of siting and acquiring permits. Management consultants provide guidance on a number of issues, including risk management or community relations, as well as perform any studies that might be needed. For example, regional transmission organizations may mandate studies when developers apply for an interconnection agreement,14 and environmental impact studies by an independent consulting firm may also be required, especially if the proposed site is located on public land.15Energy lawyers are necessary throughout the development process to handle the required documentation and contracts,16 help with permitting, and provide advisory services throughout the development process.17 Once a site has been chosen, legal services are particularly important to formalize land agreements.18 Although legal services may be provided by in-house lawyers at an OEM or engineering and construction firm, there are a number of independent law firms that specialize in renewable energy law.19 Once a power purchase agreement (PPA) has been negotiated20 and financing secured (box 4.1), construction firms prepare the site for assembly, before constructing and installing all components of the wind farm.21 Overall, construction and installation of a 13As an owner’s engineer or independent consultant for the bank, the firm is independent of the EPC contractor and acts as an advocate for its client, overseeing the engineering, construction, and design process. Connel and Grennan, “Who Needs an Owner’s Engineer?” March 1, 2011; industry, interview by USITC staff, March 12, 2013. 14 An interconnection agreement allows a project to be connected to the existing electrical grid. Applying for the interconnection agreement is the first real benchmark in the development process, as it requires a down payment or earnest money. Industry representative, interview by USITC staff, Washington, DC, January 23, 2013. 15 An environmental impact statement for public lands can add multiple years to the project timeline as well as additional expense. As a result, this can create a preference among developers for projects only on private land—in fact, one industry representative estimated that over 90 percent of U.S. wind farms are sited on private land, a figure the representative attributed largely to the greater ease of doing business with private landowners. Industry representative, interview by USITC staff, Washington, DC, January 23, 2013. 16 A number of contracts must be drawn up, typically beginning with a land agreement once an appropriate site has been found. Other contracts include EPC and construction agreements, power service contracts, and ownership agreements related to turnkey projects. Industry representative, interview by USITC staff, January 23, 2013. 17 Stoel Rives, LLP website, http://www.stoel.com/showindustry.aspx?show=1980 (accessed March 20, 2013); Foley & Lardner LLP website. http://www.foley.com/windenergy/ (accessed March 20, 2013); and Alston & Bird LLP website. http://www.alston.com/services/industries/energy/ (accessed March 20, 2013). 18 Wind farm owners and developers typically do not buy land for projects, but instead take out a 25–30 year lease. Industry representative, interview by USITC staff, January 23, 2013. 19 Industry representative, interview by USITC staff, January 23, 2013. 20 A power purchase agreement (PPA) is a long-term contract wherein the buyer agrees to purchase the electricity generated by the wind farm. PPA’s can range from 15 to 20 years and are critical to the financial success of a wind energy project because they guarantee a steady revenue stream for the project and are typically a condition of financing, which is necessary for the construction and installation phase. Early project development is highly speculative and financed by the project developer, but once a site has been identified and the permitting process begun, the project developer typically begins looking for a buyer or power purchaser. The PPA is frequently described as a significant turning point in the lifecycle of a wind energy project; once a PPA is secured a project’s probability of failure is significantly reduced. Industry representative, telephone interview with USITC staff, January 30, 2013; industry representative, interview with USITC staff, October 25, 2012; World Bank. “Power Purchase Agreements (PPAs),” June 18, 2008. 21 Jordan and Steger, American Wind Farms, September 2012, 8–29. 4-5PDF Image | Renewable Energy and Related Services: Recent Developments
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