Diligence is the mother of good fortune.

Our Solar Projects due diligence assesses the financial, legal and technical risks of a renewable energy projects, ensuring an independent evaluation for developers, owners, investors and other parties to rely upon. Providing a proof that a PV power plant is a sound financial investment benefits owners and lenders alike. Our technical due diligence for solar projects covers all aspects, from design and components to construction and performance, detecting faults that impact the plant’s bankability and cash flows. We adhere to local and international standards when evaluating safety and quality, and our recommendations can help ensure high energy yield.

We cover the entire due diligence scope for you. 

◉ Gap Analysis

identifying if all required project documents are available and complete for due diligence.

◉ Review of the System Design

technology engineering, componenets and grid connection.

◉ Economical Benchmarking

 with similar projects on the market
(benchmark of CAPEX and OPEX) and potential cash flow issues, such as curtailment.

◉ Review of Contracts

EPC, O&M, Power Purchase Agreements, Commercial TCA and/or PSA.

◉ Review of Documentation

studies and assessments (e.g. geotechnical surveys, feasibility studies, as-build documentation).

◉ On-site Inspections

are conducted in order to assess technology health. Depending on the geography, video-conference site inspection is currently used as an alternative to travel restrictions. 

◉ Permits & ESG impacts

ensure compliance with regulatory guidelines and lenders standards in environmental, social and governance policies. 

Environment & Permits
The analysis of permits in relation to their impact on design, construction and operation of solar projects is the backbone of a technical due diligence. Ramboll will assess whether the solar PV site is in compliance with the regulations and what would be the cost to resolve noncompliance issues so the buyer can start the negotiation.

We provide reviews of:
Permits & license status; Environmental regulatory compliance issues; Process Safety issues; Health & Safety regulatory compliance issues; Waste management; Known and potential areas of concern and overall risk of soil or groundwater contamination; Contracts

Our technical experts’ experience in review and negotiation of project agreements enables us to validate all relevant aspects of contracts to perform gap analysis and to benchmark project agreements.

Examples of agreements to be reviewed:

Land lease agreements; EPC agreements; Solar components supply agreements, warranty terms; O&M contracts; Insurance polices; Grid connection agreements; Solar Ressource & Site Layout

Profound knowledge of preparing such assessments is the key requisite to analyze energy yield assessments by third parties. The solar team provides a recommendation of energy yield including P50, P75, P90 confidence.

The following review will be provided as part of DD:
Energy yield reports; Solar measurements; Operational performance review based on SCADA data (for sites in operations); On-site inspections

Our assessment of operating assets includes:
Visual check of key components (mounting structure, PV modules, Inverters, AC, DC cables, etc.); Execution of measurements (to identify damaged PV modules, distance between modules, module angles, voltage & current via PV inverters). We also provide site suitability review. It includes geographic information mapping review like location ground, natural risk assessment, shadow assessments, track of grid connection lines, solar irradiance assessment review.

Economics
Based on the energy yield estimations and the plant design, we will evaluate key financial and economic indicators on the project, to provide the client with a proof on its bankability and to assess the benefits of the financial investment for owners and lenders.

Our services include:
CAPEX/OPEX evaluation; O&M cost modelling; Cash flow modelling; Company evaluations. 

We’re Ready for a deep dive into your project. 

Or get in touch at: 

milan@hexagonpeak.com