You are here: YMAC > Renewable Energy Projects > Project Timeline > Financial close

12

YMAC Project Timeline

Financial close

Comprehensive agreements may take years to negotiate and financial close is the culmination of the years of development work. In this stage, banks, financiers and investors commit to the project, and finance is approved. This means that the project can proceed to construction and implementation.

YMAC
Important notes about this timeline

Terms of Use & Disclaimer apply throughout this YMAC Renewable Energy Guide and all related materials

Financial close

Prescribed Body Corporate (PBC) economic participation, loan agreements, and the financing agreement will all be finalised prior to financial close. Banks/financiers provide a level of funding for the project based on the project design, including rehabilitation during all stages as well as at the end of the project’s life. PBCs should be fully informed about negotiations with financiers and other third parties.
By this stage the Renewable Energy Developer (RED) will aim to finalise Power Purchase Agreements (PPAs), i.e., secure a buyer/s for the energy ‘product’. Financial close should be celebrated with the PBC and community. Each PBC will have their own way of commemorating this. Communication and announcement opportunities arise in this stage and must be jointly managed with full consultation and agreement, e.g., community celebration, media announcement, newsletter to Common Law Holders. Failure to do so may be perceived as coercion, intimidation or manipulation and undermine free, prior, and informed consent (FPIC). Processes and outcomes must be documented along with regular review at agreed intervals, particularly when new information comes to light. Sharing this with PBCs, in a timely manner, is an effective way to achieve FPIC at every stage throughout the process and keep the project on track.
YMAC
Important notes about this timeline

Terms of Use & Disclaimer apply throughout this YMAC Renewable Energy Guide and all related materials

Country is our mother, the provider and keeper of cultural belongings. Country and Culture go together. You can’t have one without the other.

Yamatji Marlpa Aboriginal Corporation respectfully acknowledges the Traditional Owners and custodians throughout Western Australia, and on whose Country we work. We acknowledge and respect their deep connection to their lands and waterways.

We honour and pay respect to Elders, and to their ancestors who survived and cared for Country.

Our offices are located on Whadjuk Country, Southern Yamatji Country, Kariyarra Country, and Yawuru Country. We recognise the continuing culture, traditions, stories and living cultures on these lands and commit to building a brighter future together.

Disclaimer: Caution: Please be advised that this website may contain images, voices and names of deceased people.

This will close in 15 seconds

Important notes about this timeline

YMAC’s Renewable Energy Guide has been developed for use by Prescribed Bodies Corporate (PBCs), Traditional Owners, Renewable Energy Developers (REDs), government and industry.

It is designed as a ‘big picture’ framework for renewable energy projects. Its intention is to support a best practice approach by all parties involved in a project. 

All projects are different, and the Project Timeline is not intended to be a perfect fit for all projects. That is, for any project, stages may occur or commence at different times or not be required. Some stages are linear, and others may occur, in whole or in part, concurrently. Each stage incorporates considerations for other stages, as relevant to a project.

The Project Timeline is a GUIDE ONLY.