Everoze advises investor on 36MW French wind portfolio

Published January 2017

Everoze advised an institutional investor as part of acquisition of 36 MW greenfield wind portfolio in France. The portfolio has been developed by RES and consists of the Blaiseron (12MW), La Baume (12MW) and Vieille carrière (12MW) wind farms, all equipped with Vestas wind turbines.

For each projects, Everoze’s scope of work included the following technical reviews: energy yield, consenting, land securement, grid, tariff, structural and environmental suitability, construction and operation contracts, financial model inputs.

To execute the latter scope of work, Everoze employed its industry leading technical due diligence process ensuring a dependable risk assessment, smooth communication, and continuous highlight of open or risk items. These items have then been openly discussed between the parties to design efficient mitigation measures allowing to reach the risk threshold acceptable to Everoze’s client.

RES transaction manager Nicolas Lanoue de Menthon indicated « Working with Everoze as the technical advisor on the investor side has been a pleasure. During the whole process, there has been an excellent communication between the RES and Everoze teams allowing quick resolution of any open matter. Everoze project team has demonstrated a deep knowledge and great responsiveness resulting in an effective due diligence process for the investor and for ourselves.”

At the end of the due diligence, Everoze’ can automatically produce a full due diligence report highlighting risks pre and post-mitigation and the final risk status. The due diligence reports includes a clear executive summary including (i) the main descriptive aspects of the project (ii) an exhaustive list of the enduring risks (if any), and which can be used for investment or credit committee decisions.

While the three projects closing occurred gradually from June to November 2016, projects commissioning will occur between January 2017 and November 2017. During this period, Everoze will support the investor with construction monitoring work including desktop review, site visits and wind turbine inspections at take-over.

Everoze work has been led by French partner Arnaud Thome supported by broader project team including Richard Whiting, Jerome Jacquemin, Siobhan Green and Brieuc Pey.