Project Phases New NRG utilizes a specific methodology to arrive at the final operational structure of each project. This model follows the path of:
- Discovery
- Feasibility
- Pre-Contracting
- Pre-Engineering, Design and Configuration
- Business Plan
- Pre-Finance
- Site Selection
- Permitting
- Finance Close
- EPC
- Operations
Discovery Process The process of discovery is to ensure that all questions for the feasibility study are addressed to make a preliminary determination whether a facility of economic value is worthwhile. This process involves meeting with potential partner groups to ascertain interest for a facility. Feedstock, offtake and transportation issues are examined to see if any are major impediments to the process. If there are no major impediments, the process will move to the feasibility stage.
Feasibility
This formal study will evaluate all aspects of the process to determine how the facility should be configured, what the facility capabilities should be, whether a ready supply of feedstock is available, whether there is a market for the offtake and whether the facility construction can be handled properly.
Pre-Contracting
Once feasibility determines that the operational model can be employed, Letters of Intent are sought for Feedstock and Offtake to ensure the facility will meet its operational goals. Letters of Intent from local groups who are in support of the process will be obtained if necessary from the feasibility study. Any other Letters of Intent which the feasibility directs will be sought during this phase.
Pre-Engineering 
The Pre-Contracting phase will make the final determination as to plant size and configuration. A configuration schedule will be handed to the ultimate engineering group who will perform a pre-engineering study to determine what the facility will require so they can give a plant cost estimate based on that configuration need. A draft engineering, procurement and construction contract will be sought at this time.
Business Plan
The business plan and financial model will be created based on the pre-engineering, plant cost estimate, letters of intent and the feasibility study. This process will look at all available data to determine how the operational model should function to ensure successful debt service and accurate forecast methodology.
Pre-Finance
During this phase, term sheets will be sought from equity and debt providers to ensure the facility has the financial backing to be completed.
Site Selection
Site selection is key to project success, but means nothing without the other component parts of the strategy and operational model. Site selection will be done to assure the maximization of transportation, ease of permitting and expansion capability.
Permitting
Once the site has been selected, the permitting cycle will begin to assure the finance groups the facility can be completed. New NRG hires expert legal and engineering groups to assist in this process to ensure a smooth and rapid process. This is aided by the teams’ extensive knowledge of issues related to plant construction and environmental impact.
Finance Close
Following permitting completion, the Term Sheets will be converted to final documents for close. Finance due diligence normally occurs during the permitting process which speeds this process along. Once finance has closed, construction can begin.
EPC
The EPC contract will be signed at finance close which will begin the construction schedule. At this point, the development team stops working and the operational team begins its process. Normally, the plant operational team is hired by the EPC contractor, and is integral in the plant construction process so they have a thorough understanding of the plant design and process which is key to problem solving later.
Operations
Once plant construction has been completed, the facility is stress tested for 80 and 100% capacity. Once completed tests are verified, New NRG or the operating subsidiary takes ownership and takes over operations.