Kimberlee Centera, CEO of TerraPro Solutions, sat down with Benoy Thanjan on the Solar Maverick Podcast at InterSolar North America 2026 to discuss the hidden risks that most commonly derail utility-scale renewable energy M&A deals โ and what developers and investors can do to get ahead of them.
The conversation, recorded live at the InterSolar conference in San Diego, covers three critical risk categories that TerraPro Solutions sees repeatedly across projects: site control gaps, mineral rights complexity, and title defects that surface too late to fix cleanly.
Risk #1: Site control that isn't really site control
One of the most common issues Kimberlee sees at the deal table is a gap between what a developer represents as "site control" and what lenders' attorneys actually find when they look at the documents.
"There's a big difference between site control and perfected site control. If the land you're representing doesn't match what the lenders' attorneys are looking at, you're going to have issues right out of the gate."
โ Kimberlee Centera, CEO, TerraPro Solutions
Common problems include documents that aren't recorded, incorrect legal descriptions, missing signatures, and access rights that exist on paper but haven't been properly formalized. Investors always want to know: if something happens to the developer, can they step in and protect their interest? If the site control isn't perfected, the answer is often no.
Risk #2: Mineral rights complexity
Mineral rights โ particularly where they've been severed from surface rights โ represent one of the most underestimated risks in utility-scale development. When mineral rights are severed through a deed grant or reservation, they create an entirely separate chain of title that must be researched independently. Title companies don't do it automatically.
In one example Kimberlee discussed, TerraPro Solutions spent fourteen months negotiating with drill site operators and mineral rights owners on a single project โ with the county even claiming jurisdiction over drill site approvals, an extraordinary circumstance that no one anticipated going in.
"Mineral severance becomes its own chain of title. It has to be researched separately. It poses a big risk to your project, and a lot of developers underestimate just how complex and difficult it can be."
โ Kimberlee Centera, CEO, TerraPro Solutions
Risk #3: Title defects that surface too late
Title issues are deceptively common and deceptively costly when they show up at the wrong time. Unrecorded documents, incorrect legal descriptions, missed signatories, missing assignments โ none of these are complicated to fix if you find them early. All of them become expensive, time-consuming, and sometimes deal-threatening when they surface at closing.
Kimberlee shared a case study that illustrates the stakes: a single landowner signed a document, then passed away the following day. The recording went through โ but the estate produced thirteen heirs. Every subsequent document required notarized signatures from all thirteen owners. No title company or lender will accept twelve out of thirteen.
What developers can do differently
The consistent thread throughout the conversation is front-loading. The deals that are moving forward fastest right now are the ones where developers did their critical-path diligence early โ not because they solved every problem, but because they knew what they had.
- Identify your highest-risk issues before exclusivity expires
- Engage title companies early โ curative work takes time
- Verify everything a seller represents โ don't assume it's accurate
- Know the receptivity of local constituencies before committing capital
- Understand whether your project touches federal land, mineral severances, or active drill sites
"When you sit down at the table with a lender and you're transparent about where the hair is on the project โ and you have a plan for it โ you garner a lot more credibility and trust. And you have a much better likelihood of the project going forward."
โ Kimberlee Centera, CEO, TerraPro Solutions
The full conversation also covers AI in due diligence, current industry trends following safe harbor legislation, and Kimberlee's advice for entrepreneurs building businesses in the energy space.
This episode was recorded at InterSolar North America 2026 in San Diego as part of the Suncast Media live programming. The full transcript is available on this site.
