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Service: Feasibility and Due Diligence

Client: A Globally-Recognized Power/Public Infrastructure Lender

Client Objective: Understand and manage the risks associated with refinancing the long-term debt of a co-generation asset.

Engagement Description: E3 Consulting was retained by the lender to conduct due diligence on a 120 MW coal-fired co-generation (steam) asset as part of a proposed refinancing.

Services provided by E3 Consulting included:

  • Technical and Operational Review (fuel supply, PPA, and operating contracts and historical maintenance records)
  • Historical Performance Review (heat rate, output, reliability)
  • Environmental Performance Review (permits, emissions, notices of violations)
  • Financial Performance Review

Client Result: E3 Consulting uncovered multiple cost, revenue, and environmental issues in the course of the engagement. The client declined to finance the project based on E3 Consulting's input, avoiding risks that were significantly out of proportion to the lender's rate of return.