DNV GL has supported CI III Monegros Energy Holdco in refinancing its portfolio of twelve wind farms with a capacity of in total 487.3MW by providing technical advisory services to a consortium of six lenders. The aim of the due diligence review provided by DNV GL has been to refinance the assets at Commercial Operation Date (COD).
DNV GL carried out an independent analysis of the wind regime and energy production of the projects in the portfolio. As the lenders’ technical advisor throughout the refinancing phase, DNV GL has also reviewed the site conditions based on the meteorological information provided, the balance of plant (BoP) designs available for the wind farms and the construction contractual arrangements. In addition, DNV GL undertook a technical review of the construction, operation and maintenance contracts, power purchase agreement, inputs to the financial model, reviewed the grid and interconnection permits and requirements, and also checked environmental and administrative permitting and Equator Principles compliance.