Natural Power Completes Due Diligence On Behalf Of Lenders

NAW Staff, Thursday 15 August 2013 - 15:52:43

Renewable energy consultancy Natural Power reports it has completed technical due diligence of four wind farms in northern France on behalf of funding banks Nord/LB and HSH Nordbank.

Diamond Generation Europe, a subsidiary of Mitsubishi and EDF Energies Nouvelles, has secured a EUR 100 million non-recourse debt package with two lenders to finance the construction of the projects. The wind farms, which have a combined output of 72 MW, are located in the Nord-Pas de Calais and Picardie regions.

To secure financing, Natural Power reviewed the balance-of-plant and engineering, procurement, and construction contracts; analyzed land lease agreements; and audited the energy production assessment. The consultancy says it will also provide construction monitoring and validation on behalf of the funding banks throughout the build-out process and operational phase.



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