Leading renewable energy consultancy and service provider, Natural Power, has provided vendor’s due diligence to Innergex Renewable Energy Inc (“Innergex”) in support of its long-term co-investment agreement with Crédit Agricole Assurances to provide additional equity commitment for the development and financing of ongoing renewable energy projects in France.
Pierre Warlop, Managing Director of Natural Power France, said: “We see great potential in France and wider mainland Europe, where there are some of the world’s most ambitious net zero targets.”
“We’re delighted to have helped Innergex with this pivotal transaction to support its development portfolio. Our report enabled the strategic partnership to proceed, and it’s exciting to see developers like Innergex accelerating growth of renewable energy production in France.”
This long-term partnership provides Innergex with additional financial flexibility to continue and accelerate its greenfield development activities of wind, solar and storage projects in the years ahead.
For the wind, solar and battery storage projects in the Innergex portfolio, Natural Power provided energy yield assessment, reviews of contracts, design and technology, and operational activity.
The team also provided site visits and inspections, life extension analysis for operational projects and proposed operational improvements.
For the projects in development, Natural Power reviewed permits, environmental impact assessments, grid capacity, land rights, and overall development constraints and progress. Finally, Natural Power opined on financial model technical assumptions.
Guillaume Jume, Vice President and General Manager, Innergex France said: “We thank Natural Power for their continuous support on this landmark transaction for Innergex, which has been delivered in a record timeframe. We are indeed planning to accelerate our growth in the French market and are very happy to see such a reputable French investor partnering with us”
Natural Power’s team in France has delivered advisory services for more than 45GW of projects in the last two years alone, and the offshore team has doubled in the past 18 months. Find out more about due diligence services here www.naturalpower.com/uk/expertise/service/advisory/due-diligence