OST Energy advises Wirsol and BayernLB on 197 MW UK solar PV portfolio

Wirsol solar PV plant in the UK. Image: Wirsol
Wirsol solar PV plant in the UK. Image: Wirsol

OST Energy (OST, Brighton, UK), an independent engineering consultancy, has worked with international solar energy provider Wirsol Energy Limited and German bank BayernLB to provide technical due diligence and independent engineering support for two UK solar photovoltaic (PV) portfolios with a combined capacity of 107 MW.

OST has been engaged by Wirsol since August 2016 to deliver a full suite of pre-construction technical due diligence services, subsequent construction monitoring and take-over phase support for a portfolio of 10 ground mount PV assets totaling 61MW.

In addition, during the refinancing of this portfolio, which closed successfully in January 2017, OST acted on behalf of lender BayernLB, supplying detailed technical reports to inform a non-recourse loan of GBP 46 million.

 

Solar PV projects qualify for Renewables Obligation scheme

This latest project follows on from OST’s work with Wirsol and BayernLB in early 2016, facilitating the successful financing and construction of a previous 45 MW portfolio, consisting of nine solar PV sites across the UK. Projects in the two portfolios were constructed either by Wirsol or by third party contractors.

Each of Wirsol’s 19 UK solar projects – either completed or currently under construction – qualifies for the Renewables Obligation (RO) scheme. Identification and mitigation of technical risk throughout the asset lifecycle – from financing and construction to operations – was critical in securing long-term debt.

OST has strong heritage in the UK market, alongside a growing international presence, having advised on five of Europe’s ten largest solar PV transactions in 2015-16, the company emphasizes.

 

 

 

 

2017-03-16 | Courtesy: OST; Image: Wirsol  | solarserver.com © Heindl Server GmbH

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