Customer
Two South African banks
Challenge
Provide independent engineering support to the lenders for financing a PV project in a new PV market in South Africa.
Approach
DNV conducted a site assessment, detailed technology review, design evaluation, energy yield, Engineering Procurement and Construction (EPC) / Operation & Maintenance (O&M) cost / inverter reserve reviews, support during construction, tests review, performance ratio protocol, Power Purchase Agreement (PPA), the connection agreement review, the project schedule, the financial model and the permits and leases and time to completion review and drawdown certifications.
Value to the Customer
The role of DNV as an independent engineer of the project allowed the use of the due diligence report by the banks involved in the project financial close.