What to Ask Before You Buy: Real Estate Risk Checklist for Renewable Energy M&A Deals

Thinking about acquiring a renewable energy project?

One overlooked clause or unrecorded easement can throw the whole deal off course.

Before You Buy, Ask These 6 Critical Questions

In renewable energy mergers and acquisitions, one of the most critical — but often underestimated — components of project viability is land. Even with favorable interconnection status, permitting, and offtake agreements, unresolved real estate issues can undermine value, delay timelines, or prevent a deal from closing altogether.

At TerraPro Solutions, we specialize in identifying and resolving land-related risks. This checklist is designed to support developers, investors, and acquirers in conducting effective real estate due diligence prior to transaction.

1. Who owns the land — and is ownership consistent across the project?

Utility-scale projects often span multiple parcels with different owners. Confirm:

Title reflects current ownership across all parcels
No recent unrecorded transfers, deaths, or divorces
Entities listed in agreements align with current title records

If ownership cannot be verified, legal control is not established.

2. Are all agreements fully executed, valid, and assignable?

Ensure that all leases, easements, and other land-related documents:

Are signed by all required parties
Reflect the correct legal entities
Include assignability provisions or express third-party consents

A partially executed or expired agreement may be unenforceable and unmarketable.

3. Is legal access documented and recorded?

Don’t rely on physical access alone. Confirm:

Recorded easements or rights-of-way for all parcels
Prescriptive easement history, if applicable
No physical barriers, encroachments, or shared access conflicts

Unrecorded access rights are one of the most common deal-breakers in M&A transactions.

4. Are there outstanding liens, mortgages, or third-party interests?

Review title for any:

Mortgages requiring lender consent for assignment
Tax or mechanic’s liens
Surface or subsurface leases that affect project viability

Undisclosed third-party rights can impair title insurance or limit project use.

5. Does the title require curative action?

Conduct a full Schedule BII review to identify exceptions such as:

Breaks in the chain of title
Missing releases or outdated instruments
Reserved mineral rights or easements impacting the development footprint

Curative work may require weeks or months to complete. Early identification is critical.

6. Is the site survey aligned with title and agreements?

Compare the ALTA survey (if available) to legal descriptions and land control exhibits:

Confirm boundaries match site plans and agreements
Identify encroachments, unrecorded roads, or improvements
Flag inconsistencies between title and physical conditions

Real Estate Risk Demands Proactive Review

In M&A transactions, land control is not just a checkbox — it’s a foundational component of project value and financeability. Unaddressed risks in ownership, access, title, or curative history can introduce substantial cost, uncertainty, and delay.

TerraPro Solutions brings deep expertise in real estate risk management for renewable energy development and transactions. We help clients identify critical issues, prioritize curative work, and ensure project readiness well before the deal table.

Need support reviewing land risk ahead of your next acquisition or sale?
Contact TerraPro Solutions to learn more.

TerraPro Solutions uses Accessibility Checker to monitor our website's accessibility.