As part of the STREAM Consortium, EQANIMA is providing its exclusive global consultancy for the overall coordination of the largest financing project ever in Europe, and linked to a single portfolio of rooftop photovoltaic systems, over 216 MW for 150 M€.
The project is by Italy’s Sunprime, which has entrusted STREAM as Lender’s Technical Advisor, and has been developed on an international basis with the significant participations of Israeli investors, Noy Fund, Nofar Energy and supported in its financial process by Indigo Finance.
The pool of financing banks, Austrian and German, consists of Kommunalkredit Austria, KfW IPEX-Bank and Norddeutsche Landesbank Girozentrale, and made use of internationally relevant Companies for the analysis and validation of the investment such as: Legance for legal advice, Marsh for insurance advice, and KPMG as financial model auditor.
The dual assignment of Lender’s Technical Advisor assigned to EQANIMA includes a first phase of general Due Diligence, personally and through its suppliers, which has already been completed, on the portfolio of 282 rooftop PV systems, i.e., on the administrative mechanisms in which the portfolio is placed at the national level (GSE and e-distribution in primis) and on the general technical level such as, the evaluation of Sunprime’s choice of components, the analysis of costs budgeted (capex and opex), the evaluation of expected performance, and the analysis, in addition to the general technical content, of turnkey supply (EPC) and operation and maintenance (O&M) contracts.
The second part of the advisory involves periodic technical Due Diligence, specific to the progress of individual facilities, the total duration of which is estimated to be 24 months and where specifically, review and validation covered and covers individual facility designs and documentation, cost affidavit and issuance of “go-ahead” for disbursement of funds for the specific group of projects. Inspections are also planned on a significant sample of the portfolio, with field survey of the actual state and operation of the selected installations.