The project company will take responsibility for an existing business ("Existing") or a new, greenfield function ("New"). A project involving the creation of a new water treatment facility to provide bulk water to the water utility would be a New project, while the extension and operation of an existing airport would be an Existing project.
Projects which involve an existing business can be more complex to implement, requiring assessment of risks associated with, for example, existing assets, employees and business liabilities. Each of these issues will necessitate a more extensive due diligence process than would a New project. However, an Existing business can also bring with it a better understanding of demand, an existing portfolio of assets and business, more certainty as to project data (since it will have been tested) and an existing revenue stream; all of which can make for a significant benefit for investors and the financial viability of the project.