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ANA (IBEX 35) 73,040 (-0,53 %)

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EPC Contracts

Together with its activity as renewable energy developer, ACCIONA Energy also offers the market its project development skills in a number of renewable technologies, particularly wind power and photovoltaic energy, where it already has extensive experience in installations for customers.

The company adapts to the customer’s needs in terms of the most suitable cooperation formula in each case. This can range from a shared ownership company to turnkey projects through EPC (engineering, procurement and construction) projects or the provision of specific services in each phase of the process.

In the last few years, ACCIONA Energy has carried out five EPC contracts totaling 434.7 MWp in wind and PV solar technologies, with projects located in Mexico, Chile, Canada and Australia.

 

What is an EPC contract?

The projects carried out through an EPC contract (Engineering, Procurement and Construction) are a common form of arranging contracts in the construction industry.

The projects undertaken through EPC contracts are those in which the project owner contracts the engineering, procurement and construction services to a contractor. The contractor designs the facility, acquires the necessary materials and constructs the project. A common project model is a turnkey project through a fixed price through an EPC contract.

With this contract model, the construction risk falls mainly on the contractor so that the owner is free of that burden. The owner is protected from changes in the prices of the materials, labor, etc. In addition, the price is fixed at the start of the project, which poses a significant benefit for the owner. Another advantage of EPC projects is that the owner has immediate availability of the post start-up services and communication is simplified by having a single point of contact. In general, the EPC contracts are the fastest and simplest solution for the owner.

 

 

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