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WindQuest Advisors on Managing TSA & FSA Negotiations

WindQuest Advisors on Managing TSA & FSA Negotiations

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 Allen and Joel sit down with Dan Fesenmeyer of Windquest Advisors to discuss turbine supply agreement fundamentals, negotiation leverage, and how tariff uncertainty is reshaping contract terms. Dan also explains why operators should maximize warranty claims before service agreements take over. Sign up now for Uptime Tech News, our weekly email update on all things wind technology. This episode is sponsored by Weather Guard Lightning Tech. Learn more about Weather Guard’s StrikeTape Wind Turbine LPS retrofit. Follow the show on Facebook, YouTube, Twitter, Linkedin and visit Weather Guard on the web. And subscribe to Rosemary Barnes’ YouTube channel here. Have a question we can answer on the show? Email us! Welcome to Uptime Spotlight, shining Light on Wind. Energy’s brightest innovators. This is the Progress Powering tomorrow. Allen Hall: Dan, welcome to the program. Great to be here. Thanks for having me, guys. Well, we’ve been looking forward to this for several weeks now because. We’re trying to learn some of the ins and outs of turbine supply agreements, FSAs, because everybody’s talking about them now. Uh, and there’s a lot of assets being exchanged. A lot of turbine farms up for sale. A lot of acquisitions on the other side, on the investment side coming in and. As engineers, we don’t deal a lot with TSAs. It’s just not something that we typically see until, unless there’s a huge problem and then we sort of get involved a little bit. I wanna understand, first off, and you have a a ton of experience doing this, that’s why we [00:01:00] love having you. What are some of the fundamentals of turbine supply agreements? Like what? What is their function? How do they operate? Because I think a lot of engineers and technicians don’t understand the basic fundamentals of these TSAs. Dan Fesenmeyer: The TSA is a turbine supply agreement and it’s for the purchase and delivery of the wind turbines for your wind farm. Um, typically they are negotiated maybe over a 12 ish month period and typically they’re signed at least 12 months before you need, or you want your deliveries for the wind turbines. Joel Saxum: We talk with people all over the world. Um, you know, GE Americas is different than GE in Spain and GE in Australia and Nordics here, and everybody’s a little bit different. Um, but what we, we regularly see, and this is always an odd thing to me, is you talked about like negotiating. It starts 12 months ahead of time stuff, but we see that [00:02:00] the agreements a lot of times are very boilerplate. They’re very much like we’re trying to structure this in a certain way, and at the end of the day, well, as from an operator standpoint, from the the person buying them, we would like this and we would like this and we would like this, but at the end of the day, they don’t really seem to get that much negotiation in ’em. It’s kind of like, this is what the agreement you’re gonna take and this is how we sell them. That’s it. Is, is that your experience? I mean, you’re at GE for a long time, one of the leading OEMs, but is that what you’re seeing now or is there a little bit more flexibility or kind of what’s your take on that? Dan Fesenmeyer: I think generally it depends, and of course the, the OEMs in the, and I’ll focus more on the us, they’ll start with their standard template and it’s up to the purchaser, uh, to develop what they want as their wishlist and start negotiations and do their, let’s say, markup. So, uh, and then there’s a bit of leverage involved. If you’re buying two units, it’s hard to get a lot of interest. [00:03:00] If you’re buying 200 units, then you have a lot more leverage, uh, to negotiate terms and conditions in those agreements. I was with GE for 12 years on the sales and commercial side and now doing advisory services for four years. Uh, some of these negotiations can go for a long time and can get very, very red. Others can go pretty quick. It really depends on what your priorities are. How hard you want to push for what you need. Allen Hall: So how much detail goes into a TSA then are, are they getting very prescriptive, the operators coming with a, a list of things they would like to see? Or is it more negotiating on the price side and the delivery time and the specifics of the turbine? Dan Fesenmeyer: Generally speaking, you start kind of with the proposal stage and. First thing I always tell people is, let’s understand what you have in your proposal. Let’s understand, you know, what are the delivery [00:04:00] rates and times and does that fit with your project? Does the price work with respect to your PPA, what does it say about tariffs? That’s a huge one right now. Where is the risk going to land? What’s in, what’s out? Um. Is the price firm or is there indexation, whether it’s tied to commodities or different currencies. So in my view, there’s some ...
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