Diligent vs BoardPro for Solar EPCs Juggling Project Entities

Tax equity investors, lenders, and utility interconnection agreements typically require each solar or energy project to sit inside its own single-purpose entity, isolating that project's liabilities and cash flows from the rest of the company. This is standard structuring, not something an EPC contractor chooses to avoid, which means a contractor running a healthy pipeline of projects is also running a growing stack of entities, each one needing its own governance record kept current.

A tax equity investor's counsel will typically request, for every entity in the transaction, a current resolution confirming who is authorized to execute the closing documents, proof the entity is in good standing, and consents for any related-party arrangements between the project entity and the parent. Assembling this for one entity is straightforward; assembling it for a dozen entities on a tight closing timeline, when several haven't had their governance touched since formation, is where deals slow down or where the paperwork gets rushed and something gets missed.

Maintain a running list of every project entity, its current officers, its formation date, and the date its resolutions were last updated, reviewed at least quarterly regardless of whether a closing is imminent. A contractor that only looks at this list when a tax equity investor's counsel starts asking questions is always working against someone else's deadline, and a closing that stalls over paperwork is a real cost, not just an inconvenience, when financing terms are locked to a rate that can move before the delay resolves.

Track these fields for every project entity:

• The name of each project entity, so none is missing when an investor's counsel asks for the full list.
• Its current officers and who is authorized to sign closing documents on its behalf.
• Its formation date, kept alongside the rest of that entity's governance record.
• The date its resolutions were last updated, reviewed at least quarterly whether or not a closing is near.

A contractor with a small, steady pipeline, say a handful of active project entities at any given time, can keep this current on BoardPro: one resolution template reused across entities, a shared calendar for when each was last updated, and enough simplicity that the person managing project finance can maintain it without a dedicated corporate paralegal. The key requirement is discipline, not software sophistication, at this scale.

Once a contractor is running many simultaneous project entities across different stages, some closing, some operating, some being sold to a new owner, Diligent's entity management becomes the more defensible system: centralized tracking across every entity, permissioned access so a tax equity investor's counsel can review exactly what they need without exposure to unrelated projects, and an audit trail that speeds up, rather than slows down, the diligence process on the next closing.

Solar and energy projects frequently change hands after commercial operation begins, sold to a long-term owner once construction risk is behind the deal. That ownership change typically triggers a fresh round of governance documentation for the entity being sold, and a contractor with clean, current records from day one moves through that sale process considerably faster than one that has to reconstruct years of governance history under a buyer's timeline.

A registered agent and annual filing service like Bizee, applied consistently across every project entity, keeps the baseline compliance layer from lapsing quietly on any single one, which matters because a lapsed entity discovered mid-closing can delay a transaction even when the underlying governance resolutions are otherwise in order. Pairing that baseline compliance with the board's own resolution discipline covers both halves of what a tax equity closing will actually check.

A general contractor or subcontractor operating as one entity can rely on a single, relatively static governance record that rarely needs more than an annual review. An EPC contractor structuring projects into individual entities does not get that luxury: the governance workload scales with the pipeline, not with revenue or headcount, so two contractors of similar size can face very different governance burdens depending purely on how many active project entities each one is carrying at a given time. Recognizing this early helps set realistic expectations for how much ongoing entity management the business actually needs, rather than under-resourcing it because the company's overall size seems to suggest a simpler need.