Tulipes, Oeillets & Bleuets lender technical due diligence

Published February 2022

Everoze was delighted to advise BPCE ENERGECO on the debt financing of Tulipes, Oeillets and Bleuets wind farms developed and built by H2AIR. Tulipes (36MW) and Oeillets (8.8MW) wind farms were commissioned in 2021 whereas the Bleuets (25.2MW) wind farm construction completion is planned for the beginning of 2023.

Camille VANDENBEUCK, Project Finance & Investment Director at H2air mentions: “We have been working with Everoze for many years, and it is always a pleasure to work with Arnaud and the wider team. On the Bleuets project, Everoze was able to capitalize on their previous experiences with us – in particular on projects with HV private substations. The technical due diligence was done in a very efficient and timely manner.”

Everoze’s scope of work included technical review of permits, grid, tariff, land, technology, design, environmental constraints, construction and O&M contracts, energy yield and financial model.

For Tulipes and Bleuets wind farms, Everoze’s scope of work also included the review of the construction, O&M and injection agreements dedicated to the wind farms’ private substations connected to the RTE network.

Following financial close, Everoze’s scope of work consists in construction monitoring, site visits and take-over approval.

Everoze’s work has been led by French partner Arnaud Thomé supported by a broader project team including Brieuc Pey, Maud Vachon and Justine Malafosse.