Everoze acts as Lender’s Technical Adviser to HSH Nordbank on 43MW wind farm portfolio

Published May 2017

Everoze was delighted to advise HSH Nordbank on the debt financing of 2 wind farms located in Aube department in France, totalling 43MW. The projects developed by BayWa r.e. consists of Vestas V110 2MW and V126 3MW wind turbines, the latter being the first installation of this turbine model on French soil.

Everoze’s scope of work included technical review of permits, grid, tariff, land, structural engineering and environmental suitability, construction and operation contracts as well as the construction program. 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 HSH Nordbank within the challenging project programme.

HSH Nordbank transaction manager Frank Dessau indicated: “Everoze presented the comprehensive results of their systematic analysis on time and in a format that is easy to use. Arnaud is always ready and willing to discuss the results as well as to cooperate with our other advisors.”

Sponsor transaction Manager Thomas Blondot added : “The Everoze team demonstrated a very high level of knowledge, flexibility and responsiveness throughout the process which allowed the closing of the transaction in a challenging timeline”

Financial Close was reached in April 2017 with project commissioning scheduled for Q3 2017. During this period, Everoze will support the lender with construction monitoring work including desktop review, site visits and wind turbine inspections at take-over. Everoze’s work has been led by French partner Arnaud Thome supported by a broader project team including Brieuc Pey and Alexander Klein.