Before Notice to Proceed (NTP), a project requires a lot of development work, including land contracts, permits, interconnection agreements, and other preparations.
Momentum is supported by Leyline Renewable Capital specifically to help fund these activities that occur before construction financing is available.
Momentum conducts the entire development process from inception to commissioning. After NTP, Momentum manages construction funds, works with independent engineers and owners engineers, and ensures that the acceptance testing and commissioning processes align with the project guarantees.
If land is situated in close proximity to a viable interconnection, it may be eligible for a long term land lease to host an energy project.
We first work with land owners to secure an option to lease while we assess the viability of the interconnection. The interconnection evaluation involves a detailed study with the local utility and regional transmission operator. Depending on the size of the project, this process can take anywhere from 2-18 months.
If the interconnection proves viable, we will acquire the necessary permits and execute the long term lease option with the land owner. Lease rates are often equal to or better than what could be obtained for agricultural, ranch, or farm leases.
With owner permission, we may also make improvements to the site, such as creating access roads or clearing and leveling.
In some cases we will consider purchasing the land if the land owner prefers this option and the project can sustain the expense.
When the project is decommissioned, all of the equipment is removed.
Momentum develops brownfield projects.
Our grid is changing and many legacy power plants are retiring.
Former coal plants, gas plants, or aging wind or solar sites have potential for repowering or augmentation with energy storage. One of Momentum’s first projects involved the repowering activities of a retired coal plant.
Momentum’s ANYTHING+ Storage approach can hybridize operating energy projects. Under appropriate market conditions, the addition of storage can add revenue and increase the rate of return for a project by adding additional revenue streams.
Contact us if you are looking for ways to repurpose your aging assets.
Any entity that contributes equity or financing to a project is an owner.
All of Momentum’s projects will have built-in technical and contractual features to help the owner achieve reliable operations and stable revenue.
First, the project is designed for longevity. Momentum assesses the application, and then derives a performance envelope that accounts for variability in the application or marketplace. Momentum assesses temperature, charging and discharging profiles, and throughput against the required warranty period. Momentum then works with suppliers to assure that they’ve incorporated the appropriate assumptions into their offering.
Second, Momentum negotiates performance guarantees and warranties from the suppliers that are beneficial to the owner. These warranties are not just a paper guarantee - they are supported by the project’s technical design. Therefore the technical and contractual requirements are truly back-to-back.
Third, Momentum can work with buyers to provide stability to the revenue stream if it is both practical, viable, and required by the owner. Once the owner establishes a target IRR that reasonably accounts for the potential revenue and the cost of a backstop (if any), Momentum can work within owner-established boundaries to add such solutions to the project.
When it comes to technology, Momentum is agnostic and flexible. The best technology for a project is the technology that proves most reliable, cost effective, and available with the greatest extent of safety factors.
More than 95% of the energy storage market today comprises Li-ion battery solutions that have benefitted from economies of scale afforded by the much larger global electric vehicle market. For this reason, in most cases an energy storage project will require a Li-ion solution.
However, Momentum is not opposed to evaluating flow batteries or other electrochemical or mechanical energy storage solutions, and understands their operating principals and potential advantages.
Momentum’s founders have been on the forefront of energy storage technology since the first generations were introduced in the first decade of the 2000’s. New innovations in liquid cooling for improved performance and longevity are a step above the older air cooled designs. The shape and form factor of energy storage systems lends to safer operations. Momentum’s founders wrote some of the industry’s first guidelines for first responders and will work with suppliers, partners, and stakeholders to develop appropriate first response procedures.
Construction and COD
When a project is developed, the developer may exit the development process before construction starts.
While the developer may have solicited the initial bids on the project design, once the developer exits, these specifications - and the discussions that created them - are lost.
Momentum doesn’t operate this way. Momentum will follow the project from inception to commissioning, assuring that the project – including its technical specifications, the contracts that support them, and the appropriate verifications upon their delivery – are met.
Momentum will work with industry leading owner’s engineers, independent engineers, and other 3rd parties like CAMS to develop, modify, and execute acceptance and commissioning procedures that verify the project will operate as the guarantees and contracts specify.
The owner will take ownership of the project with confidence, knowing they received what they paid for.
Momentum works with industry leading operations & maintenance (O&M) providers like Consolidated Asset Management Services (CAMS) to assure that projects are appropriately and independently monitored and supervised. CAMS also provides independent Asset Management (AM) services such as accounting and regulatory compliance services in order to assure that the administrative aspects of the project entity are appropriately managed.
Regardless of the O&M and AM provider, when Momentum transfers ownership of a project to an owner, the project comes with a memory. The memory contains all of the documentation, account transfers, contracts, permits, technical specifications, and operations history of the project.
For the people that work in and around energy storage systems on a daily basis, they need to know that the system has been designed with safety in mind. They should know the hazards and be trained on appropriate responses.
In the event of a failure, they should know who to call, which fire departments they’ll be working with, and what information to provide when first responders arrive on the scene.
Momentum works with suppliers and O&M providers to acquire the most current safety knowledge in the industry so they can be adequately prepared.
Momentum selects the most comprehensive safety systems such that the projects are protected with the best technology available.
Momentum’s founders conducted failure investigations, fire testing, and created industry best practices for energy storage system safety. Momentum brings that experience to the development process, assuring that safety carries through from design to operation.
Long Term Operations
Every project has challenges.
Historically, owners of energy storage projects have relied on contracts to protect them from the downside exposure resulting from equipment failure.
While those contracts – such as warranties and performance guarantees – provided some protection, they did not protect the owner from the downtime and negotiation that inevitably accompanies an unexpected failure.
By starting with robust designs and working with suppliers, O&M providers, and 3rd party monitoring, Momentum’s projects include additional layers that not only protect an owner when project shortfalls occur, but proactively mitigate them before they occur.