Stronghold Solar Portfolio, France
About the project
Scope
Natural Power supported Octopus Energy Generation (Octopus) in the acquisition of the 80MW Stronghold solar portfolio in France. The portfolio comprises two 40MWp solar farms, both located on former military bases that have been successfully repurposed for renewable energy generation alongside sheep grazing.
Commissioned in 2024, the projects demonstrate how renewable energy development can be integrated into existing landscapes, delivering clean power while supporting sustainable land use.
The assets were acquired from BayWa r.e France on behalf of the Sky Fund (ORI SCSp).
The Challenge
As part of a strategic acquisition, Octopus required a comprehensive technical due diligence, focusing on acceptance testing and operational performance, with a view of selling the electricity produced through short-term corporate power purchase agreements. This required us to:
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Assess project quality and long-term operational performance
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Evaluate contractual frameworks and delivery risks
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Validate technical, regulatory, and financial assumptions
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Ensure the assets were robust, compliant, and investment-ready
Given the complexity of newly operational assets and their unique land use context, timely and expert insight was critical to support decision-making.
What did Natural Power do to get this result?
Natural Power’s European Advisory team delivered a two-phase technical due diligence programme, providing detailed analysis across all key aspects of the projects.
Phase 1: Contractual Review
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Engineering, Procurement & Construction (EPC) agreements
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Operations & Maintenance (O&M) arrangements
Phase 2: Full Technical Due Diligence
Comprehensive review and risk assessment covering:
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Project technology and design
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Planning permissions and permits
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Grid connection and infrastructure
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Route to market considerations
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Operational performance assumptions
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Financial model inputs and sensitivities
This structured, end-to-end approach ensured all technical and commercial factors were rigorously evaluated.
Client Feedback
“We are pleased to have worked with Natural Power on the successful acquisition of these two solar projects. Their technical expertise and responsiveness were invaluable throughout the process, and we look forward to continued collaboration on future projects.”
Ismaël Tougui, Investment Director, Octopus Energy Generation