27 Jun 2024 .

Natural Power delivers technical support to UNITe’s 239MW Niagara Project


Natural Power, a leading renewable energy consultancy and service provider, has completed technical vendor due diligence services on behalf of UNITe Group. The transaction, known as Niagara Project, was aimed at finding new investors to finance the development of UNITe’s solar photovoltaic portfolio. 

The success of this transaction reinforces UNITe Group’s diversification strategy towards photovoltaic energy, specifically based on the development of agrivoltaic projects and the signature of corporate power purchase agreements.

The portfolio Natural Power reviewed was composed of operational wind (26MW) and solar assets (18MW), plus a pipeline of wind (4MW) and solar (191MW) projects in development throughout France.

Axelle Foix, Senior Due Diligence and project lead at Natural Power, 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.

Simon Duhamel, CFO at UNITe Group, 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.

When it comes to green energy projects, Natural Power’s experience enables banks, developers, independent power producers (IPPs), utilities and investment funds to make good financial decisions.  Find out more technical due diligence services here.