- Enertis Applus+ has advised the Brazilian bank Itaú and Crédit Agricole CIB in the financing phase that was closed with a USD 210 million loan.
- Enertis Applus+ is supervising the project construction and will continue to provide support during commissioning, provisional acceptance, and operational phases.
- The 438 MW Boa Sorte PV plant is located in Paracatú, in the state of Minas Gerais, in Brazil.
Madrid, November 15, 2023.- Global consulting, engineering, and quality control firm, Enertis Applus+, with extended expertise in the renewable energy and storage sectors, is acting as Lender’s Technical Advisor for Atlas Renewable Energy, Itaú and Crédit Agricole CIB for the 438 MW Boa Sorte PV plant. With this appointment, the firm provides support in the financing, construction, commissioning, provisional acceptance, and operation phases of the project.
The Boa Sorte PV plant, located in Paracatú, in the Brazilian state of Minas Gerais, and property of Atlas Renewable Energy, has been furnished with a USD 210 million loan.
During the financing phase, closed in January, in which the Brazilian National Development Bank, BNDES, also participated, Enertis Applus+ acted as Lender’s Technical Advisor to Itaú and Crédit Agricole CIB developing a Due Diligence report with a comprehensive analysis of the project to verify compliance with the required technical codes and quality standards, and to identify any other technical-economic risks.
As part of this analysis, Enertis Applus+ evaluated site suitability, project design and main equipment, solar resource availability, energy production estimates and expected project performance, permits, and grid connection, among other elements. In addition, the firm reviewed the Engineering, Procurement and Construction (EPC), Operation and Maintenance (O&M), and Power Purchase Agreement (PPA) agreements, as well as the financial model, analyzing the technical aspects of the base case, such as capital expenditures (CAPEX), estimated commercial operation date, estimated energy production, and operating expenses (OPEX).
Enertis Applus+ is currently supervising the project construction and will continue to oversee the following stages, issuing specific technical reports for the construction, commissioning, provisional acceptance – estimated in June 2024 – and operation phases, to ensure that project milestones are met.
In the words of Aitor Ilundain, Regional Manager LATAM South at Enertis Applus+: “It has been a privilege to support Itaú, Crédit Agricole CIB, and companies with a long track-record in the renewable energy industry in Latin America, such as Atlas Renewable Energy and Hydro Rein. The Brazilian PV sector is booming, and we are committed to continue supporting the deployment of renewable energy projects in the country by providing our technical knowledge as well as professional and high-quality consulting services in the financing and purchase transactions of these installations.”