Services

Comprehensive Technical Advisory for Energy & Infrastructure Finance

Primary Services

  • Fatal Flaw Reviews - An independent engineer will typically do a higher level initial review of a project and/or technology to ensure that there are not any inherent risks that would prevent the project from being financeable. Developers will commonly engage an independent engineer to evaluate their project and provide additional credence to any potential investors.
  • Independent Engineering Reviews - An independent engineering review is a full technical review of the project's: site, participants, technology, contracts, operations and maintenance, environmental requirements, and the technical inputs to the financial model. The review is concluded with a detailed report providing opinions on the technical aspect of the project. This report will also address key risks to the success of the project and provide mitigation strategies where applicable.
  • Construction Monitoring - An independent engineer can monitor the progress of the construction of the project. This includes the tracking of the construction to the construction budget and schedule as well as any changes to the budget and/or schedule. Construction monitoring typically includes a monthly visit to the site to meet with contractors and on-site personnel. The general status of the project is then provided in a monthly report noting any concerns and/or issues.
  • Performance Test Monitoring - An independent engineer can monitor the performance testing of the project to ensure that the testing is completed pursuant to the appropriate test protocols. Then the results of the test can be reviewed to ensure that the performance of the project is as guaranteed or expected.
  • Annual O&M Reviews - An independent engineer will review the annual operations budget. This review generally includes a site visit, evaluation of the staffing, maintenance level, long term maintenance and capital improvement plans, and the overall performance of the project. The review is concluded with a memo summarizing the finding and recommendations for approval of the annual operating budget.

Additional Services

  • Contract Negotiations - Independent engineers review contracts on a regular basis to evaluate technical inputs. This expertise enables us to help developers in negotiating key contracts such as, EPC Contracts, LTSA, O&M Agreements, Equipment Supply Agreements, Fuel Agreements, etc. We have an inside look at what are typical market conditions for many of these types of contracts and can help developers get comfortable with a contract that works.
  • Project Design Reviews - With our wide exposure to a variety of technologies and project configurations, we can help developers evaluate their proposed project design. This applies for established technology as well as new and innovative projects. We can also help assess the financeability of your project.
  • O&M Reviews - Our involvement with numerous operating facilities enables us to provide a comparative assessment of the proposed O&M program your project. We look at things like availability, capacity factor, staffing, spare parts inventory, maintenance, and more. Then we can provide recommendations of where you may be able to improve your operations and/or save money.
  • Development Support - As independent engineers, we see numerous projects. From our experience with these projects, we can help in the development in projects in areas such as site selection, technology evaluation, environmental testing requirements, expected project costs, construction cycles, etc. We can help develop a cost effective project that will be well received by the lenders.
  • Owner's Engineer - An Owner's Engineer is very similar to an Independent Engineer. The key difference is that the Owner's Engineer reports directly to the Owner and is more involved in the day to day engineering duties of getting the project designed, built, and completed. From our experience, we fully understand the duties of the Owner's Engineer and can also help the project avoid the common pitfalls of major capital projects going for financing.
  • Expert Witness - Mr. Trent Markell has acted as expert witnesses for the evaluation of coal facilities (for Colorado PUC), acquisition of combined cycle facilities (for Colorado PUC), fuel cell projects (for US DOJ), biomass projects (for US DOJ), biodiesel projects (for project owner), and waste to energy projects (for project owner). Our standard services as an independent engineer transfers directly to being an expert witness, in providing expert reports and providing oral testimony.
  • Mergers & Acquisition Diligence - The typical diligence performance on M&A transactions is different from typical project finance deals. Our strong background in O&M enables up to quickly evaluate the financial viability of an asset. Likewise, we can evaluate areas of technical concern and provide risk mitigation strategies to improve the long term operation of the asset.
  • Useful Life Evaluation - The classic question: How long will my project last? The answer will always include it depends upon the quality of the operations and maintenance, but PF Engineers can elaborate more on the existing project programs and provide an evaluation of how long the asset should be useful.