Project Financing of Second Largest Wind Park in Italy Completed
The worldwide wind industry is tied to the financial community: financial support from banks and investors is essential to implement and realize wind farm projects. The independent engineering consultancy, GL Garrad Hassan, accomplished the assessment of the potential risks that can influence the project financing of the wind park.
By identifying potential risks and demonstrating ways of mitigating them, GL Garrad Hassan supported ERG Renew, a wind energy electricity producer, and the banks involved to meet the strict requirements of a project financing. Adding this project to its portfolio, ERG Renew is now one of the leading operators of wind parks in terms of installed capacity in Italy.
GL Garrad Hassan's project and portfolio due diligence service covers all of the technical aspects of a wind farm project. The consultancy reviews all project-related reports, contracts, technical specifications and financial models as well as the detailed design of certain features, for example the turbine, turbine foundation and electrical network.
The Fossa del Lupo wind park in Calabria has a total nominal power of 97.5 MW. Italy is one of Europe's leading wind energy hot spots in new installed wind energy with a provisional total installed capacity of 6,880 GW at the end of 2011.
Germanischer Lloyd SE
GL Garrad Hassan is one of the world's largest dedicated renewable energy consultancies and a recognised technical authority on the subject. It offers independent technical and engineering services, products, and training courses to the onshore and offshore wind, wave, tidal and solar sectors. Although the GL Garrad Hassan name is new, the company has a rich heritage. It is borne of the integration of specialist companies that, united, form the renewable energy consulting division of the GL Group. GL Garrad Hassan is a consulting company; it has no equity stake in any device or project. This rule of operation is central to its philosophy, something which sets it apart from many of its competitors. For further information, please visit www.gl-garradhassan.com