Natural Power has completed technical vendor due diligence services on behalf of UNITe Group for its solar projects.
The transaction, known as Niagara Project, was aimed at finding new investors to finance the development of UNITe’s PV portfolio as part of its diversification into solar, including agrivoltaics, and the signature of power supply deals.
The portfolio Natural Power reviewed was composed of operational wind (26MW) and solar assets (18MW), plus a pipeline of wind (4MW) and PV (191MW) projects in development throughout France.
Senior due diligence and project lead at Natural Power Axelle Foix said: “Having previously supported UNITe with advisory services in the context of project refinancing, we were pleased to be working on this project utilising the extensive experience within our local team in France.
“We are keeping a close eye on the development of agrivoltaics, which is emerging as the new market standard, with more than 25GW of projects under development.
“By analysing the technical and environmental constraints and verifying that the agrivoltaic projects meet the criteria set out in decree no. 2024-318 of 8 April 2024, enabling the synergies between agricultural activity and energy production to be assessed, we can review the design of these projects and provide an opinion on their chances of being permitted.”
To support this developing area, Natural Power also maintains a database of doctrines and opinions issued by local authorities.
UNITe Group chief financial officer Simon Duhamel said: “The successful completion of this project portfolio underscores the strategic importance of Natural Power’s expertise in ensuring the technical and environmental viability of our projects.
“Their role has been crucial in advancing our renewable energy initiatives and securing investor confidence, ultimately supporting our growth and commitment to sustainable energy solutions.”
In addition to completing a detailed review of all wind assets in operation, one operational solar plant and a sample of projects in development, Natural Power has also been contracted by UNITe to deliver post-construction energy yield assessments (PCYA) of Saint-Sauveur, Saint-Aubin and Saint-Secondin wind farms and of Mezos solar plant; pre-construction energy yield assessments (EYA) on some wind projects under development; and reviews of energy yield assessments for a sample of projects under development.