Bankability is a design choice
Energy-transition assets can be bankable when offtake quality, construction contingency, and sponsor commitment are engineered together—not bolted on after the model is finished.
Transition risk is credit risk. Treat technology pathways and policy timelines as underwriting inputs, not footnotes.
Liquidity under stress
Reserve accounts and revolving facilities should assume longer outage and delay scenarios than historical fossil baselines. Rating agencies already do.
Partner selection
Technical partners with balance-sheet depth and documented change-order discipline remain the cheapest form of risk mitigation available to sponsors.
