Performance Guarantees
A performance guarantee is provided by an EPC contractor in favour of the owner or by a subcontractor/key component supplier in favour of the EPC contractor. A performance guarantee protects the owner from losses if the contractor fails to fulfil his contractual obligations. Typically, the performance guarantees are often issued according to an industry standard. The wording may therefore differ depending on which country you want the bond to be issued in.
You may also like
Renewable Rental Guarantee
Solutions to secure lease obligations for the leasing of land for energy projects.
Advance Payment Guarantees
Guarantees required by project owners from an EPC contractor, sub-contractors, key component supplier if funds are disbursed in advance (typically a % of the contract amount) of the construction phase.
Grid Connection & Auction Guarantees
Grid Connection and Auction Guarantees are required by public authorities in certain countries to be able to develop Renewable Energy Projects.
Power Purchase Agreement Guarantees
Power Purchase Agreement (PPA) obligations often require guarantees from the power producer to secure the delivery on the amount of energy, at a particular price and from a renewable source of origin to the power purchaser.