Investment Risk Assessment of EPC Power Transmission and Transformation Projects under New Energy Grid Connection Based on the Owner’s Perspective

Table 1

Differences between traditional project contracting mode and EPC mode in PTTPs.

Comparisons	Traditional project contracting mode	EPC mode
Main mode differences	The tasks of design, procurement, and construction are undertaken by different contractors in chronological order	EPC general contractor undertakes the tasks of design, procurement, and construction, and all tasks can be coordinated in time dimension
Coordination	Owner’s external coordination with low efficiency	Internal coordination of the general contractor with high efficiency
Application scope	Small or medium-sized projects	Large-scale projects
Construction progress control	More difficult in coordination and control	Less difficult in coordination and control
Owner’s participation	Deeper participation	Shallow participation
Total project costs	Higher costs	Lower costs
Owner’s management costs	Higher costs	Lower costs