What needs to be done between Financial Close and Operation?
- Establishing of the project company (if applicable)
- Creating the organisation to deliver construction and operation
- Starting up the administrative and business operations
- Supervision of project construction
- Commissioning and hand-over
The establishment of the business entity includes defining the business functions, company organisation and mandates:
- Establishing the legal entities and service agreements
- Institutional governance
- Own/outsourced resources
- Organisation, recruiting, training
- Service contracts
- Initiating the administrative and operative functions, e.g.
- Financial management, O&M, HR, Environmental, social compliance
- Contract management
- Reporting within the company and to stakeholders such as owners, financiers, authorities