Stranded backlog is a revenue problem.
You win the award. The developer cannot fund. The job never converts. It happens often enough to have a name, and it is the largest uncaptured margin in your business.
Why you, and not a lender
01You are the best underwriter of construction execution risk in the transaction, because you are the only party that controls it daily — procurement and supply chain, permitting and interconnection coordination, specialty subcontractor management, sequencing and commissioning, and the cost and delay drivers that actually determine whether a job lands on schedule.
A lender underwrites those risks from the outside, at a distance, with an independent engineer and a model. You underwrite them from the inside, every day, as a matter of ordinary course. The capital markets price that difference, and the difference is large.
This is not speculation. You are not taking a view on power prices or on a developer’s business plan. You are underwriting the thing you already control.
You fund this with indemnity, not cash.
No capital leaves your balance sheet. What you provide is surety capacity above your baseline bonding program, supported by indemnity — an instrument your organization already uses, already understands, and already has an approval process for.
Four ways this pays
02Backlog conversion. Awarded and pursued work that currently dies before NTP becomes funded, contracted revenue.
Program margin, on work negotiated within a repeatable program rather than won on competitive bid.
A long-dated contractual participation in project revenue, structured to avoid ownership and tax-credit friction.
Financing economics on the permanent takeout.
What we require
03Surety capacity above your baseline bonding program, with headroom you are willing to commit.
Engagement early, while terms are still being negotiated rather than after execution.
Defined exposure limits and a named internal approval path, agreed before we start.
A contracting posture that supports cost and schedule certainty.
How a first program starts
04One or two named projects. Defined caps on your exposure. A first closing targeted within ninety days of a confidentiality agreement. If it works, it repeats — successful execution strengthens your bonding capacity and makes the next program larger.
Discuss a contractor program