• Definition: Risk that a reserved or unreserved turbine/transformer slot arrives after the contractual COD.
• Drivers: GE Vernova backlog 116 GW; 5-7 year lead times (per news-3216568).
• Allocation: OEM delay to IPP (OEM guarantees); offtaker readiness delay to offtaker.
• Mitigants: slot evidence pre-NTP, COD-tied LDs with cap and termination right, bridge power, lender step-in rights.
• Technology hedge: reciprocating engines or hybrid; figures need OEM quotes.
• Open diligence items: LRCAP reservation terms, Brazil large-load interconnection timing, lender pricing.
• Related: news-3216090, news-3216405.