Upon reviewing condition 18.2.1 of PPA, we understand that EGAT Endorsements are required for the policies which have been endorsed to Lender at the time of Financial Close date. We appreciate that Lender also require WC policy from the project owner. However, Lender just needs a copy of WC policy for their information so we believe EGAT Endorsements are not required.
In addition, based on our experience, we have never seen EGAT Endorsements included in WC policy.
Trust this clarifies but should you have any other questions, please let us know.