Hydropower Project Development Cycle

	Task	Private	Public
1	Site identification and selection
2	Carry out reconnaissance study (establish feasibility of scheme)
3	Apply for exclusive rights to site; Letter of Interest (LOI) issued
4	Select foreign and/or local engineering consultants and carry out bankable feasibility study (FS)
5	Carry out environmental impact assessment (EIA)
6	FS/EIA approval by respective regulators
7	Tariff petition/approval (FS stage)
8	Issuance of Letter of Support (LOS)
9	Start land acquisition process (payment at FC)
10	Tender for civil construction, electrical works and electro mechanical equipment supply and installation or turnkey EPC arrangement; evaluation, selection and contract execution
11	Negotiate and execute implementation agreement(s) covering government facilities, concessions and developers’ obligations
12	Negotiate water rights and execute water use agreement
13	Finalize O&M arrangements and execute O&M contract
14	Finalize project cost and financing plans
15	Negotiate and execute power purchase agreement (PPA)
16	Submit tariff petition/seek approval (EPC stage)
17	Finalize equity arrangements; execute shareholder(s) agreement(s)
18	Finalize loan placement, syndication and execute finance documents
19	Apply/obtain relevant consents and CPs satisfaction process
20	Establish equity/sponsor support letter of credit/guarantees
21	Negotiate and sign limited recourse government guarantee securing obligations of governmental entities incl. power purchaser
22	Financial closing, unconditional availability of funds (FC)
23	Construction start
24	Testing and commissioning to satisfy construction arrangements and power purchase requirements under PPA
25	Commencement of commercial operations
26	Tariff petition/approval (Commercial operations stage)