THE WIND O&M INDUSTRY, LIKE MOST SERVICE INDUSTRIES, has a long (and sometimes checkered) history with guarantees. Wind guarantees can be notoriously difficult to understand and navigate; as the industry moves forward with increasing technological and financial sophistication, the guarantees that back the projects need to keep pace. Ultimately, each project contract is unique, and requires a granular-level understanding of its fine print. Nevertheless, with a general framework for understanding the different types of risks that underlie a project, and the guarantees that are available to mitigate those risks, owners can make informed decisions in this increasingly sophisticated environment.
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