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Service: Due Diligence

Client: Owner of a Mid-Sized Wind Farm

Client Objective: Refinance long-term debt obligation

Engagement Description: E3 Consulting was retained by the owner to help refinance the long-term debt obligation on a wind farm. The wind turbine gearbox models in question had experienced a small number of highly public failures in other deployments.

Services provided by E3 Consulting included:

  • Review of equipment operating performance
  • Examination confidential data from tests conducted by the gearbox manufacturer
  • Development of a probabilistic failure model
  • Establishment of a quantitative framework to estimate future replacement/repair costs

Client Result: E3's findings and analysis assisted the owner and lender to properly size the Maintenance Reserve Account to a level that was appropriate from the lender's risk perspective while balancing the owner's willingness to invest prompt cash into the project.