When gazing into a solar pipeline, it's easy to lose
oneself. It reminds me of when I was a teenager. A certain type of
poster, the Magic Eye, was all the rage. The poster was a dense
field of dots of various colors. I was told that if I looked into
it — no, through it — I would see an image. I just saw
dots.
In this third installment of How to Value a Solar Pipeline (read
Part 1 and Part 2), we will explore the third pillar of
project finance success: site control.
Site control is specific to each project. Like with those dots,
a sharp analyst may find patterns emerge across project portfolios
or pipelines. Unfortunately, however, there are no shortcuts. Each
dot, a unique place on Earth, must be evaluated. These dots have
individual geographies, unique title concerns, and bespoke
agreements.
