DNV GL reviewed 73 solar energy assets totaling an installed capacity of 216 MW
Madrid, Spain, November 9, 2020 - DNV GL, the world's largest resource of independent energy experts and certification body, has performed a technical due diligence on behalf of Caisse de dépôt et placement du Québec (CDPQ), a global institutional investor, to review an operational portfolio of 73 photovoltaic assets located in Spain with a total installed capacity of 216 MW.
“Spain has been a country where renewables have grown exponentially. It is in sixth position in the ranking of the world’s greenest nations, becoming a benchmark in the renewable energy industry. Thanks to business investments such as that of CDPQ, and the awareness of the population and key energy actors, Spain is contributing to achieving a decarbonized economy,” declared Santiago Blanco, Vice-president and Energy Area Manager Iberia - LATAM and GreenPowerMonitor at DNV GL - Energy
CDPQ is a long-term institutional investor that manages funds primarily for public and parapublic pension and insurance plans. As one of Canada’s leading institutional fund managers, CDPQ invests globally in major financial markets, private equity, infrastructure, real estate and private debt.
DNV GL’s role during this project was to evaluate different aspects of the solar PV plants located throughout Spain. These assets produce over 355,000 MWh annually, which is enough clean electricity to supply more than 115,000 households.
The scope of work that supported the purchase transaction included the evaluation of the technical risk and mitigation measures related to the industry practice, technology review of key equipment, operational energy production estimate, operational review of the assets and assessment of lifetime, operations and maintenance agreements examination, permits and environmental and review of the financial inputs. DNV GL has performed technical due diligences for over 2GW and reviewed + 180 operational plants in Iberia / LATAM in 2020.
According to DNV GL’s Energy Transition Outlook, in a few decades, power systems in most regions will be dominated by solar and wind – boasting Cost Learning Rates (CLRs) of between 16 and 28% for the core technologies. From 2018 to 2050, solar PV capacity will grow 20-fold, reaching 10 TW just before 2050. This scenario for renewable energy encourages further investments on the market.
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