Ann: Fluence Successfully Raises $36.0 Million to Underpin Growth, page-87

@plough,

Not in the case of their large CES projects like Ivory Coast & Mexico (desal).
The Ivory Coast build is a first of its kind combination of treatments to try to filter out the toxic algae from the lagoon water then treatment to drinking standards.
Incredibly complex, so there is indeed a lot of risk attached as @twigman7 stated. There is also a lot of reward if they do get it built and running as planned, as many other similar plants are required worldwide, and they will also be the most qualified candidate to win the 15 year Ivory Coast O&M contract (could be worth approx $273 million USD over 15 years) for the plant.

The scope of work under the contract includes water intake, water treatment, bulk water piping, water towers and infrastructure. The Plant will include cutting-edge integration of proven technologies: smart intake, various separation and membrane systems, advanced oxidation, biological filtration and sludge treatment. The advanced multiple barrier design (ensuring water quality according to World Health Organisation standards) is an environmentally sound water treatment process that allows the flexibility to optimise operating costs in various feed qualities. The design combines Fluence’s suite of water treatment technologies and leverages the Company’s deep understanding of water biology and chemistry, different treatment methodologies, and experienced technical staff.

Even for a small modular plant like an Aspiral or Nirobox, if they install it, but don't go through the full commissioning process, then it will not work.

Some plants, like the one in Egypt in JV with Hassan Allam (New Mansoura), are designed for staged upgrades, so it can start out as a 40,000 m3/d stage 1 project, and in future stage 2 expansion to 80,000 m3/d can occur when required. However, a half-finished stage 1 will not result in a working 20,000 m3/d plant.