COD
COD, or Commercial Operation Date, is the date from which the project is ready for commercial operation and revenue generation. COD describes a project delivery, investment or execution factor that affects schedule, cost and investment readiness.
What this means in practice
In practice, COD is reflected in the assumptions, contracts, operating strategy or financial model of the project. It helps define how the asset works, how risk is allocated and how value is converted into measurable cash flows.
Why this matters
COD matters because it affects project value, risk allocation, financing capacity and the credibility of the investment case. For investors and financing institutions it is one of the elements that determines whether the model is realistic and defensible.
How Envalis views it
At Envalis, COD is assessed as part of an integrated view of the project. We connect technical assumptions, market logic, contract structure and financial outputs to show how this element affects value, risk and bankability.
Application in projects
COD is used in project valuation, bankability assessment, scenario analysis, stress testing and the preparation of materials for investment or financing decisions.