Leading renewable energy consultancy and service provider Natural Power has provided technical due diligence services to GOLDBECK SOLAR, and a consortium of lenders including EBRD as well as Polish banks PKO Bank Polski and Bank Pekao, to support the financing of the Zwartowo solar farm, which will form Poland’s largest solar farm.
The first phase of the project, which is located near Gdansk, will have a capacity of 204 MW and is due to be connected this summer. The planned final capacity is 286 MWp
Natural Power provided comprehensive technical due diligence of the project’s design, technology, construction and operational contracts, PPA, grid connection, permitting and land aspects, as well as a finance-grade energy yield assessment.
Hannah Staab, Natural Power’s head of Advisory Europe, said: “As the first transmission-connected solar farm in Poland, the project faced some technical and regulatory complexities. Our team of advisors were able to draw on their extensive experience of large-scale European renewable projects as well as local knowledge via our partners, KRD Global Group, in order to help our clients to navigate these issues.”
Following the successful EUR 136m financing round, Natural Power will continue to act as lender’s technical advisor during the remainder of the construction phase, performing site visits and monitoring construction progress on behalf of the lenders.
Natural Power has supported more than 3,000 solar projects including work as technical advisor, independent engineer of record, energy yield analysis, providing expertise on PV plant lifetime extension, and installation quality. Additionally, it has supported more than 10,000 MW of storage projects through due diligence and lender’s technical advisor roles. Globally, the business has supported more than 23 GW of solar projects since 2012 and has a proven reputation and track record of working with clients to deliver solar projects from site finding and feasibility studies through permitting and construction.
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