EPCs are the most critical component in the implementation of a solar PV power plant, as they are the glue that put together the design, procurement and the complete construction. For an industry in its initial stages, selecting the right company for turnkey implementation is not surprisingly one of the most critical activities for a developer.
The following metrics are used to evaluate the credibility of the EPC.
- Year of Inception – Conducting some secondary research can let you know if the EPC is an established player or a new entrant into the solar industry.
- Background of key personnel – The background and reputation of the engineering design and marketing team is a very crucial factor. Having a good team with people having excellent expertise in their respective fields is an indicator of the credibility of the EPC, even if it is a new entrant.
- Number and Size of projects implemented – Greater scale of projects implemented and the number of projects can only augment the credibility of the EPC.
- Certifications and awards received – If the EPC has bagged any award(s) from government or private bodies, it definitely improves their profile
- Softwares and methodologies adopted – Certain solutions utilized for implementation of solar plant project such as capability of monitoring solution provider, use of any construction management softwares etc. Apart from this, the methodology adopted in terms of approach for asset management services and design of the plant can be a contributing factor.
- Performance guarantees – Assurance of performance guarantee in terms of the output and efficiency of the plant and its’ components
- Risk and liabilities covered – The insurance measures taken for risk aversion including extend of component coverage.
You might want to check out these questions too on Choosing EPCs
- How Do I Choose the Right Installer for a Rooftop Solar System? – Here
- How to Choose the Right EPC for Your Solar PV Power Plant – Here
- What are the don’ts while choosing a solar EPC? – Here
- What metrics should you use to evaluate the past performance of an EPC? – Here
- What are the value-added services that can be provided by good EPCs apart from efficient power plant installation? – Here
- Should you go for an EPC that provides O&M (Operations and Maintenance) services as well? – Here