OFFERING UNBIASED ADVICE
On behalf of globally recognized financial institutions, Infunde professionals have conducted lenders’ engineering reviews on a multitude of power and energy infrastructure asset classes and technologies including:
- Solar (PV and thermal)
- Coal fired generation (subcritical, supercritical, CFB, spreader-stoker)
- Oil fired generation
- Simple and Combined cycle generation (E, F, and H-class)
- Geothermal (single flash, ORC, and well-head)
- Energy storage and tanking infrastructure
- LNG regasification and storage systems
- Transmission and distribution systems
- Biodiesel processing facilities
Role of Lenders’ Engineer
The role of the Lenders’ Engineer during the development of the power plant project can be further described as:
Verification of the Design
Infunde will review and assess on consistency, design margins, good engineering practice, operational flexibility, redundancy and maintainability the following contracting documents: process design, process flow schemes, piping and instrument diagrams, main equipment data sheets and specifications, area classification diagram, plot plan and lay-out drawings, component designs, process control philosophy, block diagram of functionality structure, electrical one line diagram and critical civil constructions.
Material and equipment selection will be checked on proven design and good operational experience records in reference plants as far as specific operational experience data can be made available and can be traced.
Special attention will be given to the technical concepts and interfaces (such as civil constructions, controls, cooling water system, and high-voltage system & grid requirements. Infunde will assess the quality assurance system, quality related codes and standards, applied for the manufacturing and construction of the power plant.
Environmental and Regulatory Analysis
Infunde will review and assess: the environmental impact assessment report; the license application forms; operating permits and correspondence with the regulatory authorities will be studied. Possible constraints will be identified. The consent allowed will be compared with the legislation requirements.
Possible future changes in legislation requirements will be specified and the impact upon future operational constraints or capital investments will be indicated. The availability of an adequate environmental management system will be verified.
Review Contractual Interfaces
The structure and responsibilities of the contracting partners, as outlined in the associated agreements, will be reviewed on evidence, consistency and completeness. Contractual responsibilities and restrictions (limitations) affecting the operational behaviour and record of the facility will be assessed.
Contractual obligations, as laid down in the engineering, procurement and construction contracts will affect the performance capability and required reliability level of the plant. Acceptance and performance test procedures as well as guarantee conditions will be reviewed to assess the plant capability and back service level.
Verification of the Financial Model Parameters
Plant figures, such as capacity, performance, availability & reliability and operating and maintenance costs, will be verified. These inputs for the financial analysis scheme as well as for the sensitivity analysis will be provided.
Review of Project Development Plans
The risks to investors during project development and execution may lead to substantial extra costs and delays. Risk oriented reviews of project plans and management documents by an independent engineer will reduce substantially the adverse consequences of oversights substantially.