Project milestones

The resources raised by selling the pWatts are locked in the smart contracts of the Unergy Protocol. The proposed milestone-based approach allows the locked funds to be disbursed to the installer company or the seller of the Project (either way we call it the Project developer) according to the installation or acquisition progress in an objective and transparent manner.

The development progress of a Project is measured according to a defined set of milestones. Every milestone that is accomplished unlocks a specific amount of funds to be transferred to the Project developer, allowing the next milestones to be completed.

Upon the completion of a milestone, the Project developer is required to submit evidence of its completion. Once the evidence is successfully verified, the funds tied to the milestone are automatically transferred to the Wallet of the Project developer.

The installation milestones have been carefully designed, encompassing several years of the design, construction, installation and operation of renewable energy Projects. They allow an installer company to perform the engineering, procurement and construction of the Project without struggling for capital, but at the same minimizing the risk for the capital providers (i.e. the pWatt holders).

Proposed milestone structure

The following is a boilerplate list of the Milestones that were designed taking into account the proper development of a Solar Energy Project. It is important to take into consideration that the specific milestones associated with a Project may be slightly different depending on the scale and complexity of the Project to be developed and/or the demonstrated experience and background of the Installer company.

Milestone	Weight
First advance payment: preliminaries	10%
Project schedule
Contract compliance policy
Advance payment management policy
Salary, social benefits, and compensation insurance policy for on-site personnel
Non-contractual civil liability insurance policy
Machinery and equipment transportation insurance policy
All-risk insurance policy for the construction process
Second advance payment: detailed engineering and main procurement	20%
Detailed engineering (calculation reports, single-line diagram, physical arrangement, simulations and datasheets)
Supplier letter(s) or invoice(s) certifying advance payment for solar panels, with reference and quantity
Supplier letter(s) or invoice(s) certifying advance payment for inverters, with reference and quantity
Supplier letter(s) or invoice(s) certifying advance payment for structure, with reference and quantity
Third advance payment: on-site equipments and installation preparatives	20%
Photos of solar panels, inverters, and structure on-site
Payment of social security for on-site personnel
Certificate of height safety course completion for personnel
Certificate of the height safety supervisor
Photos of the energy generation measurement system
Fourth advance payment: installation of the system	30%
Evidence of occupational health and safety (OHS) training for on-site personnel
Photos of installed inverters
Photos of AC and DC connections
Photos of panel installation
Photos of installed panel support structure
Photos of the system connection point to the grid
Photos of DC and AC panels
Photo of energy meter for the photovoltaic system
Approval of partial installation from a Unergy validator
Fifth advance payment: Obtaining certifications and insurance policies for the system’s operation	10%
Installation quality and compliance certification
Asset quality insurance policy
Energy efficiency insurance policy
Completion of performance tests
Completion of communication systems stability test
Final approval from a Unergy validator
Final payment: System commissioning	10%
Grid-connection certificate from the Grid Operator
Photos and evidence of the system’s energy production

If a pre-existing Project is acquired, a different set of milestones would be required, mainly technical, regulatory, and financial validations. In this scenario, the fund disbursement would be made accordingly to a payment structure defined along with the Project seller.