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In this problem, the project is subject to renewable resources, each renewable resource is available for limited time periods during the project life cycle, and keeping the resource for each extra period results in some tardiness penalty cost. We introduce a branch and bound algorithm to solve the problem exactly and use several bounding, fathoming, and dominance rules in our algorithm to shorten the enumeration process. We point out parameters affecting the RCPSP-TWRTPC degree of difficulty, generate extensive sets of sample instances for the problem, and perform comprehensive experimental analysis using the customized algorithm and also CPLEX solver. We analyze the algorithm behavior with respect to the changes in instances degree of difficulty and compare its performance for different cases with the CPLEX solver. 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