GL Garrad Hassan Provides Technical Due Diligence For Ocotillo Wind Project
NAW Staff, Friday 21 December 2012 - 12:19:59
GL Garrad Hassan
says it provided engineering services to Pattern Energy that helped the developer secure construction loan financing for its Ocotillo Wind Power Project.
The 265 MW wind farm will consist of 112 Siemens 2.3 MW turbines with 108-meter rotors and will be located almost entirely on Bureau of Land Management land in California's Imperial Valley. Ninety-five of the wind turbines are expected to be operational by year-end.
Ocotillo Wind is the first wind project to deliver renewable energy over the newly constructed Sunrise Powerlink transmission line under a 20-year contract with San Diego Gas and Electric.
GL Garrad Hassan provided independent engineering technical due-diligence services for the project on behalf of Deutsche Bank, as joint bookrunner, co-structuring bank and administrative agent; RBC Capital Markets, as joint bookrunner and co-structuring bank; and a lending group that includes the North American Development Bank, the Royal Bank of Scotland, Societe Generale, NORD/LB and KeyBank.
Experts from GL Garrad Hassan conducted a full technical due-diligence review in support of the construction loan financing that closed in October
. GL Garrad Hassan will also provide construction monitoring services and technical support.
The independent technical due-diligence review conducted by GL Garrad Hassan included technical assessment of the site suitability, the plant, the equipment, and all of the material procurement, construction and operation contracts. In addition, its experts analyzed project construction costs, projected operating expenses and other technical inputs to the project's financial model.
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