Everoze advises NORD/LB on the financing of 24MW French Project Vienne

Published March 2017

Everoze advises NORD/LB  on the financing of 24MW French Project Vienne. The Project consists of 8 Siemens wind turbines SWT 113 3.0MW.

Everoze’s due diligence scope of work included the following technical reviews: full 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.

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 NORD/LB.

NORD/LB Senior Director Pedro Capote: « Everoze fielded an experienced team provided a robust, thorough yet pragmatic approach to the technical due diligence”

Sponsor Head of Finance and Transaction Manager added : “The Everoze team gave us the flexible and responsive support we needed to complete this transaction against a challenging timeline.”

At the end of the due diligence, Everoze produced a full due diligence report highlighting risks, pre- and post-mitigation and the final risk status. This due diligence report used by NORD/LB’s credit committee for final decision included a clear executive summary presenting:

  • the main descriptive aspects of the project; and
  • an exhaustive list of the enduring risks.

While the project closing occurred in December 2016, project commissioning is scheduled for November 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 Jerome Jacquemin, Richard Whiting and Brieuc Pey.