Vendor TDD on Valorem corporate transaction
Published December 2024
Image: Valorem Group
Extract from Valorem press release
The VALOREM Group, an independent renewable energy operator for 30 years, received a firm offer on October 5th 2024 to raise €200 million from a consortium comprising AIP Management and IDIA. GSO and IRDI, which already have a stake in the company, have renewed their confidence in the deal, alongside Bpifrance via its France Investissement Energie Environnement 2 fund.
3i Infrastructure would sell its stake on this occasion, 8 years after it became a shareholder in the Group. During this period, VALOREM has managed to increase its installed capacity by a factor of 5 and expects to produce 1.5 TWh in 2024. The Group has developed its international presence, and its portfolio of projects now totals 6,6 GW
Everoze involvement
Everoze was delighted to undertake vendor technical due diligence for the purpose of the above transaction.
The scope of work included the technical review of Valorem’s operational projects and a large part of the projects in development aiming at confirming the transaction financial model technical inputs (probability of success, time to COD, yield, Capex, lifetime and Opex).
Everoze’s scope of work was fine tuned to take into account exact project status but generally covered the following items: permits, grid, tariff, technology, design, environmental constraints, construction and O&M contracts, historical performance and yield assessment.
Gauthier LEIBENGUTH, Project Finance Manager at VALOREM mentioned: “We appreciated collaborating with Everoze, valuing their in-depth expertise as technical advisors on similar recent operations. Their availability and the constructive dialogue with our internal teams allowed us to complete the due diligence aspect of the operation while meeting the ambitious timeline. We thank Arnaud and his team, with whom we greatly enjoyed working, for their high-quality output.”
Everoze’s work was led by French partner Arnaud Thomé supported by a broader project team including Brieuc Pey, Mathieu Amendola, Mathilde Kerjouan, Arnaud Ete, Maud Vachon and Mathieu Labour.
