Leading technical advisor expands Australia team as it guides owners and lenders through financing and construction of renewable energy projects, including Australia’s largest solar project financing deal to date
Sydney, 5th April 2017 – OST Energy (OST), a leading independent engineering consultancy, has provided technical advisory services to inform a $232 million, 198MWp transaction led by Wirsol Energy and Edify Energy – Australia’s largest solar financing deal to date. This brings the total capacity of Australian renewables projects OST has worked on in the past 12 months to over 2000MW.
Since 2010, OST has been delivering its independent technical advisory services in the Australian market to help wind and solar PV project developers and investors manage technical, financial and contractual risks, from the early development phases, throughout financing, construction and operations.
As new construction and project-financing activity within the Australian renewables sector has increased over the past 12 months, OST’s Sydney-based operations have grown proportionally. This expansion has been realised by hiring locally, bringing home experienced Australian staff that had been working in the more active renewable energy markets globally, and drawing upon the support and expertise of its global team.
OST’s expanding Australian team has worked with a host of international and domestic developers including Canadian Solar, Genex Power and First Solar, alongside a variety of local and international investors, financiers and government bodies. The scope of work undertaken has ranged from yield assessments, to owner’s engineering and extensive due diligence work informing acquisition, development and financing decisions.
Most recently, OST provided due diligence for Australia’s single largest solar project financing transaction to date – a $232million debt facility from three lenders covering three large-scale sites with a combined capacity of 198MWp. As the Independent Engineer engaged at the Whitsunday, Hamilton and Gannawarra projects, OST undertook a comprehensive technical review of the three sites, informing both the sponsors and financiers providing the debt facility.
“Having already worked with the team based out of Europe, we were well aware of OST’s engineering heritage and expertise in the renewable energy sector,” said Mark Hogan, Managing Director, Wirsol Energy. “Again, the firm has proven an invaluable partner, helping us to bring our project development expertise to the Australian market.”
David Hawkins, Asia Pacific Director of OST Energy, said: “OST is proud to be contributing to the renewable energy sector in Australia, combining our extensive international experience with local knowledge and presence to provide reliable and up to date advice on the development and financing of world-class projects.”
About OST
Part of the RINA Group, OST is an award winning, global independent engineering consultancy, specialising in investment support and technical advisory services for the renewable energy market and offering a complete package of services to Investors, Lenders, IPPs and Developers.
The firm’s unbiased specialist knowledge and holistic approach provides clients with accurate insight that they can rely on, in order to make decisions about renewable energy projects.
OST Energy has an expanding global presence, employing a growing team of over 100 renewable energy experts spread across offices in the UK, Italy, France, South Africa, the USA, Australia and India. The firm has worked on over 1,000 renewable energy projects in more than 30 countries across the globe.
