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Lender’s Engineer Services for a 10 MW Wind farm in Cyprus
Lender’s Engineer Services for a 10 MW Wind farm in Cyprus

CATEGORY: Energy, Renewable Energy Sources

LOCATION: Cyprus

START/END: 2015 - 2016

CONSULTANCY BUDGET: 41,000

CLIENT: Eurobank Cyprus, Eurobank Ergasias SA, Aeoliki Akti Ltd, CYPV Finance Ltd. & I&E Andronicou Investment Ltd.

ORIGIN OF FUNDING: Eurobank Cyprus, Aeoliki Akti Ltd, CYPV Finance Ltd. & I&E Andronicou Investment Ltd.

LDK’s BUDGET SHARE: 100%

STAFF PROVIDED: 3

Lender’s Engineer Services for a 10 MW Wind farm in Cyprus

Type of Services

Phase I - Due Diligence
The relevant scope of work corresponds to a full technical Due Diligence base on the grounds of the requirements provided by means of the electronic message and corresponds at minimum to:

  • Preparation of an Energy Assessment Report with probabilistic analysis(P50-P75-P90), as part of a Due Diligence report
  • Re-evaluation of the financial data and projections
  • Evaluation of the park’s financial yield and viability study preparation
  • Predictive and resulting analysis in respect of energy yield and technical performance
  • Tracking and evaluation of deviations in respect of project development procedure
  • Checking of the required licenses, regarding the compliance with the producer’s obligations (submission of required licenses)
  • Review of EIA conditions and relevant permitting compliance
  • Review of the H&S provisions in contracts and other documentation
  • EPC contract checking and tracking of any deviations between the agreed and the completed deliverables
  • O&M contracCPVt check and analysis of the terms and obligations
  • On site inspection for noting any problems regarding the unit’s construction and operation
  • Checking compliance with contractual obligations

Phase II: Monitoring of Construction
Following to the transaction advisory part the Bank’s Engineer services during the construction phase of the project are required to include:

  • Construction schedule monitoring and review
  • Tracking and evaluation of deviations in respect of project construction
  • Predictive and resulting analysis in respect of risks on quality and construction delay incidents (including execution of EPC agreement, H&S issues etc)
  • Project management and supervision of works
  • Cost and budgeting control and reimbursements approval
  • Licensing/permitting procedures monitoring and pending issues
  • Certificate of completion for the performed works

Assistance during the performance testing, commissioning and commercial operation (grid connection included)

  • Other services that may reasonably be required and within line of the project execution.

Description

This project is being implemented by LDK Consultants and refers to the performance of due diligence and construction monitoring services for a 10MW capacity Wind Power Project. The projects relates to the planned development of a wind farm in Sanida-Kelaki area outside Limassol in Cyprus.

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