Need a project reviewed? ORTECH can help!

ORTECH's environmental and renewable energy experience combines to create world class Technical due diligence expertise.  

It’s this convergence of experience and skills plus an understanding of how projects are structured and financed that sets ORTECH apart.  ORTECH’s engineers are often called “Engineers that Speak Finance”.

ORTECH can Help!

  • Expertise:
    • Solar Power
    • Energy Storage
    • Waterpower
    • Wind Power
    • Debt and Equity Investor reviews
  • Solid Reputation, Seasoned Team
  • Working for you

ORTECH’s practical experience provides its clients sound advice during all phases of a project. ORTECH is an engineering firm that understand project finance.

Project Development and Construction Services:

  • Due Diligence Services (independent engineer, power purchase agreement)
  • Financial Services (financial analysis, production forecasting, operations & maintenance planning, RFP development)
  • Mergers and Acquisition Services
  • Other Related Services (odour assessments, biomass and biogas/landfill gas analysis)
  • Planning and Permitting Services (renewable energy approvals, environmental assessments)
  • Project Management Services
  • Renewable Resource Assessment Services (wind resource, solar resource hydrology)
  • Technology Assessment Services (vendor review, engineering design, risk evaluation)

Post-Construction Operation and Maintenance Services:

  • Financial Services (financial analysis, production back casting)
  • Operations and Maintenance Planning Services (strategy, budgets, planned maintenance, parts planning)
  • Performance Optimization Services (production verification and enhancement)
  • Inspection Services (end of warranty)
  • Maintenance and Repair Services (routine, reactive, long-term service agreements)

Our philosophy is: “to be successful we must make you successful”. To achieve this, we try to see the issues through our client’s eyes and work collaboratively to solve them. We focus on maximizing project returns and minimizing project risk. For our clients we make every effort to ensure projects get permitted and built as planned. We will do everything to ensure your project is a success for you and your project team.

Investors trust ORTECH's sound advice on renewable energy projects. Our power team has planned, built and operated green generating stations. We can help mitigate risk, overcome obstacles and provide insight. Our project management and project finance skills coupled with 40 years experience in atmospheric sciences and environmental permitting make ORTECH a valuable advisor to have at your side.

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ORTECH has experience serving as an Owner's Engineer for renewable energy projects.

The role of the Owner's Representative is to ensure that the project development and construction, including schedules, permitting, contractual relationships and the release of funds are properly managed and controlled in accordance with the relevant Project agreements. Under these services, ORTECH will report any amendments to the Project completion schedule and any material change orders for owner’s approval. ORTECH's role is to ensure that the obligations are carried out in accordance with the terms of agreement.

ORTECH will ensure your projects are developed and built on time and on budget, while identifying and managing risks.

Energy Consulting for Investors:

ORTECH provides fully independent engineering review in support of debt financing, prospectus or offering memorandum. The process ensures that the technical basis for the project is sound and that the performance assumptions about the site, the permitting status, the capital cost, the revenue expectations, the operating costs and the contractual arrangements are based on defensible data and information.

Services: 
•    Independent Technical Review
•    Technical Opinion
•    Gap Analysis
•    Project Uncertainty Analysis
•    Energy Yield Verification
•    Project Economic Verification

 

 

Lender's Trust ORTECH:  Balanced, Believable, Bankable:  At ORTECH, we speak Finance!

If you are financing a renewable energy project, ORTECH can assist with a structured and efficient due diligence process.

Well-structured long term debt is an essential component of successful renewable energy projects. Debt Providers trust ORTECH’s sound and conservative advice.  Our team has planned, built and operated renewable energy facilities.  We can help mitigate risk, overcome obstacles, provide insight and bridge the gaps between the technical and the financial.  ORTECH has the experience to work with debt providers to assess and , where possible, reduce project risks.  In short, at ORTECH we are engineers speak finance.

An overview of our Structured approach:

Phase 1: Document Review: This phase is essentially a document and planning review exercise designed to uncover any deficiencies in project planning and to identify potential difficulties that may arise during the construction and operational phases. The intent is to ensure that the Debt Provider is aware of:

  • the current status of the project,
  • remaining steps required to bring the project to the construction phase,
  • the responsibilities of each party under the agreements covering the construction and operation of the project with particular emphasis on any limitations, exceptions and exclusions that may impact the ability of the owner to service the long-term debt,
  • any higher than normal risks and measures that are proposed to deal with such risks, i.e.
  • any provincial or regional content plans are in place and meet the requirements of the relevant project, and
  • confirmation, subject to proper completion of construction, that it is reasonable to assume that the project should generate sufficient revenues and cash flows to comfortably service its long-term debt.


Phase 2: Construction Monitoring:
Pending satisfactory completion of Phase 1, ORTECH will monitor all aspects of the construction phase of the project so as to ensure that:

  • design specifications are met and consistent with documentations,
  • applicable health and safety regulations are followed,
  • debt drawdown requests are in accordance with project schedule and budget and adequately documented in accordance with the loan agreement,
  • any material variances from project budget or the exhaustion or potential exhaustion of any contingencies are identified in a timely manner, and
  • any change orders are justified and at reasonable cost in the circumstances.


Phase 3: Start-up, Testing, Commissioning & Post-Commissioning Monitoring: During this phase ORTECH will ensure that the facility has been completed in manner that:

  • permits it to deliver energy to the grid in accordance with the requirements of the grid operator and in compliance with the terms of the power purchase agreement including any regional or provincial content provisions,
  • any outstanding construction and installation matters have been dealt with,
  • conditions for the release of any holdbacks are met;
  • the state of the project is such that warranties and performance guarantees are in effect, and
  • the project is operating in a manner that produces sufficient revenues to enable the owners of the project to meet its obligations to the Debt Provider. Note that this Post-Commissioning monitoring may continue for at least one year with periodic monitoring (e.g. annually) thereafter as required by the Debt Provider.

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ORTECH has extensive experience in performing due diligence services

You have received your Power Purchase Agreement, Feed-in Tariff contract offer or RFP Win; now you are thinking “I need to get my project debt financed!”  and I need an Independent Engineer.  You have come to the right sit.

ORTECH has a long history of due diligence, peer review and auditing. The key reasons ORTECH is uniquely qualified to assist our clients in these areas are:

  • a proven audit process (plan) which incorporates lessons learned from past engagements
  • a large team of qualified auditors trained in conducting Reviews / Audits, and
  • proven company experience in a multitude of industries including Renewable Energy, Oil and Gas, Forestry, Manufacturing, Clean Technologies plus government agencies.

ORTECH has developed a detailed process for conducting due diligence on projects or potential acquisition targets or debt financing. Deliverables deal including standard checklists and engineering reports. Over the past several years, ORTECH has performed technical audits on hundreds of renewable energy facilities, environmental audits on compliance reports, peer review on technical findings and acted as expert witness for court proceedings.

ORTECH has a large team (15 – 20 personnel many of which are professional engineers) already trained and available to ensure consistent execution of the Due Diligence or Compliance Audits in a timely manner.  This means the ORTECH team is focused on the execution of the audits and not on developing a new audit process or training staff.  The large team provides our clients maximum flexibility when scheduling the required site visits and ensures the audits are completed in the shortest timeframe possible.

What is the Process for Technical due diligence

Key documentation typically reviewed for accuracy and completeness, if available before a site visit includes the following:

  1. Previous due diligence report, if applicable,
  2. Power Purchase Agreement/FIT documentation including the “Notice to Proceed” letter from the IESO and contract assignment documentation, if applicable,
  3. Key project design documentation including single line drawing, primary equipment (panels, inverters, racking) specifications (warranties) and layout,
  4. EPC agreement, construction plan and commissioning report,
  5. Domestic Content Plan (and Report if available),
  6. Grid Connection documentation,
  7. Permitting, if required,
  8. Building assessment (roof structural / condition report, electrical report),
  9. COD related documents (final Exhibit G, final Electrical Safety Association (“ESA”) inspection, notice from IESO) required to confirm the project was constructed using sound engineering and operating practices,
  10. Power output information such as calculations and /or Solar Resource Assessment (typically PVsyst simulation output),
  11. Financial Model, and
  12. Operation and maintenance logs including revenue statements from the LDC (utility), if applicable.

Why ORTECH?

Debt / Lenders Providers

Well-structured long-term debt is an essential component of successful renewable energy projects. Debt Providers trust ORTECH’s sound and conservative advice.  Our power team has planned, built and operated green generating stations.  We can help mitigate risk, overcome obstacles, provide insight and bridge the gaps between the technical and the financial.  ORTECH has the experience to work with the debt providers to assess and, where possible, reduce project risks.  In short, at ORTECH we speak finance.

Solar Integrators / Developers

Our team thoroughly understands all facets of development phases like design, construction and operation with the risks associated with each stage.  We know how to get tasks done in Ontario from legal, contracts, financing, permitting, resource assessments, industry players, and the political landscape.  Our provincial content is 100% with all employees and offices located in Ontario including the use of Ontario-based subcontractors when needed.  ORTECH is committed to Ontario, with all our offices and most of our clients located or operating in the province.  This focus reduces our conflict of interest issues. 

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