Notice to proceed (NTP)
The contractual trigger authorising a contractor to start construction — the conventional dividing line between a development-stage and construction-stage project.
Notice to proceed is the formal instruction under a construction contract that authorises work to begin. Issuing NTP usually requires the project’s conditions to be in place: land rights, planning consent, grid connection, financing and — very often — a signed offtake contract.
In asset transactions, “pre-NTP” and “post-NTP” mark distinct risk profiles and price points: pre-NTP projects still carry development risk, while post-NTP projects have crystallised their costs and contracts but not yet their construction outcome.
Structuring against this in a live deal?
ETC prices and executes PPAs across GB — founder-led, from indicative quote to signed contract.