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Assets pledged as security under a loan to assure repayment of debt obligations.


A solar collector is device that collects solar radiation and converts it to heat.

combined cycle gas turbine

A combined cycle gas turbine is a widely-used gas turbine (operating by the Brayton cycle, burning natural gas or gas synthesised from coal) whose hot exhaust is used to also power a steam power turbine.

combined heat and power generation

The production of electricity and useful thermal energy from a common fuel source. Surplus heat from an electric generating plant can be used for industrial processes, or space and water heating purposes (topping cycle). Conversly, waste heat from industrial processes can be used to power an electric generator (bottoming cycle). (Syn. co-generation)

combiner box

A PV combiner box is a junction box where the cables coming from multiple module strings are combined. May also contain fuses, switchgear and surge protection units. Also called a PV junction box.

commercial operation date

The date on which an independent technical advisor certifies that a facility has passed all required performance tests and/or is built to the specifications outlined in an engineering procurement and construction (EPC) contract.

commercial risks

Those risks that can affect project operations, such as changes in input and output prices, demand fluctuations in demand, or mechanical failures.

compact linear Fresnel reflector

A specific type of linear Fresnel reflector (LFR) technology


The date on which the project's cash flows become the primary method of repayment. It occurs after a completion test typically involving both financial and physical performance criteria. Prior to completion, the primary source of repayment is usually from the sponsors or from the contractor.

completion guarantee

A guarantee that ensures a project will achieve physical and/or financial completion. A turnkey contractor guarantees physical completion (achievement of certain operating performance). The guarantees are normally secured by performance bonds and/or penalties in the form of liquidated damages. Alternatively, project sponsors sometimes provide lenders with completion guarantees by agreeing to pay the scheduled debt service in the event the project company does not or cannot pay.

completion risks

Construction, development, or cost overrun risk.

completion test

Test of the project's ability to perform as planned and generate the expected cash flows. In a limited-recourse deal, the time when the project moves from a full recourse to a non-recourse financing.

compound parabolic concentrator

parabolic mirrors fitted behind evacuated tube collectors to concentrate solar radiation onto the collector

compressed air energy storage

Compressed air energy storage is a method of storing energy generated at one time for use at another time, using compressed air.

Concentrated Solar Power

Solar-thermal process using mirrors or lenses to concentrate a large area of sunlight onto a small area in order to convert solar energy into electricity. Electricity is generated when the concentrated light is converted to heat, which drives a heat engine (usually a steam turbine) connected to an electrical power generator.

concentrating PV

PV technology whereby solar irradiance is concentrated on very small solar cells using lenses.

Concessional loans

Loans issued with minimal or non-existent interest rates, or with extended repayment deadlines.

Condition Monitoring System

A data acquisition system which monitors the condition parameters of machinery (vibration, temperature, etc.), in order to identify changes which can be indicative of a developing fault. The use of condition monitoring allows maintenance to be scheduled, or other actions to be taken to prevent failure and avoid its consequences. Condition monitoring (CM) enables conditions that would shorten normal equipment lifespan can be addressed before they develop into a major failure. Normally used on rotating equipment and other machinery (wind turbines, pumps, electric motors, internal combustion engines, presses).


A mode of heat (or electricity) transfer through a solid

conduction heat transfer

Heat transfer via diffusion in solid materials.

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