Lender’s technical advisor to ING on 17.8MW wind farm in Poland
Published October 2021
Everoze was delighted to advise ING on the debt financing of a wind farm located in Kępno County in Poland, totalling 17.8MW. The project developed by Abo Wind consists of 9 Siemens Gamesa G114 wind turbines 2.1 and 2.625MW.
Everoze’s scope of work included technical review of permits, grid, tariff, structural engineering and environmental suitability, construction and operation contracts as well as the construction program and financial model. Together with our local Polish partner, Ensovia, Everoze ensured a robust risk assessment, smooth communication and continuous identification of any risk items. Through the process, efficient mitigation measures were discussed between the parties, allowing the technical risk profile of the project to reach an acceptable level for ING.
ING’s Alexander Straube indicated: “Looking back at several onshore wind and PV projects with Everoze acting as Lender’s Technical Adviser, we can only voice our appreciation for the collaboration between our houses. In our recent Polish wind transaction we were happy to have Everoze by our side with their knowledge of most current market practice, know-how of local Polish circumstances and attention to detail even under short deadlines.”
Financial close was reached mid October 2021 with project commissioning scheduled for Q2 2022. During this period, Everoze will support the Lender with construction monitoring work including desktop review, site visits and wind turbine inspections at take-over. Everoze’s work has been led by French partner Justine Malafosse supported by a broader project team including Arnaud Thomé, Maud Vachon, Brieuc Pey and local Polish partner Ensovia.