thethrows
New Member
Just the nature of the RFP. Original RFP close was supposed to be July 2018. The RFP process just needs to run its course (bidder queries, commercial meetings, design meetings, etc.). I have not factored any political interference which could delay/cancel the project. The highest risk of cancellation is before Financial Close, it reduces significantly once construction begins (as penalties would need to be paid out to PCo parties) and these will easily be in 7/8 figure range.
After close, based on the IO parlance, is: FNP/PPN (First Notified Proponent / Preferred Proponent Negotiation), Commercial Close (document signing) followed by Financial Close (lending is released). Implementation (i.e. construction) begins from Financial Close.
After close, based on the IO parlance, is: FNP/PPN (First Notified Proponent / Preferred Proponent Negotiation), Commercial Close (document signing) followed by Financial Close (lending is released). Implementation (i.e. construction) begins from Financial Close.