By Joseph Tassone Jr
The renewable energy industry is one of the fastest growing industries in the world right now,
but rapid growth can be a double-edged sword for project development companies. Striking the
right balance between expanding operations and nurturing a strong pipeline of new projects is
critical to long-term success. In my 25 years of experience in project development, I have seen
too many promising companies fail because they did not build sustainably.
Time and again, I have seen companies with the best intentions grow too fast, only to falter
because they failed to plan appropriately. As they raced to keep up with increasing demand,
they neglected to cultivate a steady flow of new projects, resulting in a feast-or-famine cycle
that ultimately led to their downfall. In 2009, my own wireless telecom services company faced
a similar challenge. We had more business coming in than we ever could have imagined and
were making solid profits but had little time to focus on business development. Consequently,
when the industry slowed we faced the harsh reality that we did not have enough in the
pipeline to keep up with our expenses.
This familiar pattern is evident in today’s renewable energy sector. While there is no shortage
of capital and resources, quality projects and properties are finite. Many companies,
overwhelmed by their existing workload, are reluctant to take on new leads, which I believe
could come back to haunt them in the future.
Exceptional companies recognize the importance of simultaneously executing current projects
and nurturing a robust pipeline. They understand that today’s opportunity is tomorrow’s closed
sales. The importance of investing in proper pipeline development, whether internal or
external, cannot be understated.
At onCORE Origination (oncoreorig.com), we are dedicated to helping our customers manage
their growth consistently by leveraging our expertise and strong relationships in the renewable
energy sector. We work alongside them, unearthing new opportunities and alleviating internal
bandwidth to ensure executing and business development can occur simultaneously, leading to
sustainable success.