Project Contracting

Construction and O&M Contracts 

Acting as commercial advisor to the EnerCap Power Funds, the EnerCap team was responsible for negotiating and managing the supply and construction contracts for the Fund’s assets. Subsequently we managed the Operations and Management contracts for the on-going services provided to maintain the projects. The contracts were negotiated to international standards and subject to project financing banking standards. The projects included:

  • 22MW Windfarm, Poland: EnerCap negotiated the supply with Vestas for 11 x V90 2.0MW WTGs, BOP was with GES Poland. O&M contracts signed with Vestas and GES for 5 years. Subsequently the Vestas contract was extended to 10 years with a further 5 year option.
  • 42MW Windfarm, Croatia: EnerCap negotiated the supply with Vestas for 14 x V90 3.0MW WTGs, BOP was with a local construction company ING Grad d.o.o. who subcontracted the substation, HV and MV to ABB Croatia. O&M contracts signed with Vestas for and ABB for 5 years. Subsequently the Vestas contract was extended to 14 years with a further 5 year option.
  • 80MW Windfarm, Romania: EnerCap worked with the developer to finalise the EPC arrangement with Iberdrola Ingenieria y Construcción SA (IIC) to provide an 80MW windfarm on a turnkey basis with 32 x Nordex N90/2500 WTGs. The O&M agreement with Nordex is for 13 years.
  • 18MW Windfarm Czechia: EnerCap acquired this as an operating project of 9 x 2.0MW Vestas V90 WTGs. EnerCap manages the O&M agreements with Vestas.
  • 7.4MW PV Projects, Czechia: EnerCap tendered, awarded and negotiated the EPC contract with Colexon Energy A.G. of Germany.  The projects comprise over 96,000 panels at three sites.
  • GEO Windfarm Portfolio, Poland: EnerCap worked with GEO to negotiate the WTG supply contract with Gamesa and Vestas for the 50MW Jedrzychowice and Zgorzolec wind farms in Western Poland. These contracts were subsequently used as the basis for the further 200MW plus that GEO constructed in Poland, largely with Vestas WTGs.

Power Purchase Agreements (PPAs) and GC Agreements

  • 22MW Windfarm, Poland: EnerCap advised the project on securing a 10-year, fixed price GC agreement with a leading energy trader. EnerCap also negotiated an innovative PPA with another energy trader allowing the project to opt between selling into the Day-Ahead electricity market or to sell to the local utility under the ‘Supplier of Last Resort’ mechanism.
  • 18MW Windfarm, Czech Republic: After selling the windfarm’s output under the feed-in tariff for a number of years, EnerCap advised the project on opting for the Green Bonus scheme whilst negotiating a fixed price, one-year PPA with a local utility for the physical output from the windfarm (including balancing). EnerCap has continued to review the situation annually and advises the project on whether to opt for the feed-in tariff or the Green Bonus scheme.