The briefing included a diagram to illustrate the complex project financing process applicable to the renewable energy sector. Various certification and guarantee requirements were applicable to each type of technology. Project financing did not require the developers to sign surety to a bank. The loans could be very large and the bank's depositors had to be protected against any default. Instead, each piece of equipment had to be tested, certified and guaranteed by a financially strong company. The testing and certification process was lengthy and companies required a strong balance sheet in order to provide the necessary guarantees. Start-up companies were not able to produce the kind of balance sheet to support a guarantee. Development institutions such as the Industrial Development Corporation (IDC) were alternative sources of financing. The cost of financing impacted on the cost of renewable energy and needed to be kept as low as possible.