The technical Due Diligence evaluated twelve wind farms
totaling 487.3 MW in Spain
Madrid, Spain, 2 November 2020 – DNV GL, the world’s largest resource of independent energy experts and certification body, today announced it has supported CI III Monegros Energy Holdco in refinancing its portfolio of twelve wind farms with a capacity of in total 487.3 MW by providing technical advisory services to a consortium of six lenders. The aim of the due diligence review provided by DNV GL has been to refinance the assets at Commercial Operation Date (COD).
“Mobilizing finance for investment and innovation in low-carbon energy is a key challenge for climate change mitigation. Successful refinancing of renewable energy projects requires a better understanding of the relationship between different types of finance offerings and their willingness to invest in renewables energy. Financial actors vary considerably in the composition of their investment portfolio, and the technologies they favor. Our deep technical knowledge allows us to support customers as a trusted partner during investments as important as this,” commented Andreas Schröter, Executive Vice President Advisory CEMED at DNV GL – Energy.
DNV GL’s team of experts carried out an independent analysis of the wind regime and energy production of the projects in the portfolio ensuring a sound assessment of the project’s risks and opportunities. As the lenders’ technical advisor throughout the refinancing phase, DNV GL has also reviewed the site conditions based on the meteorological information provided, the balance of plant (BoP) designs available for the wind farms and the construction contractual arrangements.
In addition, DNV GL undertook a technical review of the construction, operation and maintenance contracts, power purchase agreement, inputs to the financial model, reviewed the grid and interconnection permits and requirements, and also checked environmental and administrative permitting and Equator Principles compliance.
About DNV GL
DNV GL is the independent expert in risk management and quality assurance, operating in more than 100 countries. Through its broad experience and deep expertise DNV GL advances safety and sustainable performance, sets industry benchmarks, and inspires and invents solutions. Whether assessing a new ship design, optimizing the performance of a wind farm, analyzing sensor data from a gas pipeline or certifying a food company’s supply chain, DNV GL enables its customers and their stakeholders to make critical decisions with confidence.
Driven by its purpose, to safeguard life, property, and the environment, DNV GL helps tackle the challenges and global transformations facing its customers and the world today and is a trusted voice for many of the world’s most successful and forward-thinking companies.
In the power and renewables industry
DNV GL delivers advisory, certification and testing services to stakeholders in the energy value chain. Our expertise spans energy markets and regulations, onshore and offshore wind and solar power generation, power transmission and distribution grids, energy storage and sustainable energy use. Our experts support customers around the globe in delivering a safe, reliable, efficient, and sustainable energy supply.
Learn more at www.dnvgl.com/power-renewables
