Just five years ago, solar engineering, procurement and construction companies (EPCs) were willing to be a lot more flexible when signing contracts to build solar projects than they are today. According to Robert Lydan, CEO and Managing Director at Phoventus, it’s about who takes on the majority of project risk. It used to fall on the shoulders of the EPCs but today they are increasingly risk-averse.
“The EPC business has grown from a market where clients were able to acquire EPC service with really extensive wraps around the liabilities and energy production estimates and all of the variables of the project,” he explained in an interview.
“I’ve seen a very significant degradation of that.”