Everoze was delighted to advise CIC on the debt financing of a wind farm located in the Somme department (80) in France, totalling 10MW. The project developed by La Companie du Vent (Engie Green) consists of five wind turbines with 80m hub height and 100m rotor diameter.
Everoze’s scope of work included technical review of energy yield assessment, consenting, land securement, grid, tariff, technology and design, structural and environmental suitability, construction and operation contracts, construction program and financial model inputs. Everoze employed its industry leading Due Diligence on Demand process, ensuring a robust risk assessment, smooth communication and continuous identification of open or risk items. Through the process, efficient mitigation measures were discussed and agreed between the parties, allowing the technical risk profile of the projects to reach an acceptable level for CIC.
CIC transaction manager Alexis Loustalan indicated: “It has been a pleasure to work with Everoze on this transaction. The project team has been flexible and pragmatic and has demonstrated a deep technical knowledge. Their expertise on the contract for difference complexities was also much appreciated”
Financial Close was reached in June 2017 with project commissioning scheduled beginning of Q2 2018. At the end of the construction phase, Everoze will support the lender by inspecting the wind turbines before take-over. Everoze’s work has been led by French partner Arnaud Thome supported by a broader project team including Jerome Jacquemin and Brieuc Pey.