Locogen’s Due Diligence team were delighted to support Severn Trent Green Power* acquire up to four consented ground mounted solar PV (GMPV) projects totaling 185MWp. This will increase Severn Trent’s overall renewable energy generation output from 350GWh per year to approximately 500GWh per year. To put into perspective, this is enough to supply 70,000 homes with power for an entire year! This is a huge achievement for Severn Trent Green Power.
Our red flag review quickly highlighted the projects value
After initially working closely with the client’s advisor, Savills, to undertake a red flag review of each project’s design and energy yield, we then focused our hands-on owner’s engineer and design skills into providing independent yield and cost estimates, critical inputs needed for the valuation and acquisition.
This work also involved identifying planning condition requirements and provided advice to the client on measures needed for discharging these. Our team pulled together construction costs, programs and planning conditions trackers to support the client’s delivery team, and stayed in frequent contact throughout the assignment to provide support and advice whenever this was needed.
We're delighted with Locogen's support on this deal, which helps Green Power push forward with our ambitious growth plans and strengthens our drive towards UK sustainability and energy independence.
Overcoming grid obstacles
One key risk, which is affecting many projects throughout the UK at this time, is the risk of delays and additional costs to grid connections. Locogen reviewed grid connection arrangements and costs and worked closely with the client’s advisor, Savills, to ensure that suitable risk mitigation measures were in place without jeopardising project value.
We are proud to have supported Severn Trent Green Power on its successful and significant acquisition of these consented utility-scale solar PV projects. This assignment marks another major milestone for both our client and Locogen.
How our Due Diligence team can help you
Locogen’s key to successfully delivering technical due diligence (for both buyers and sellers) is the combination of a highly experienced and responsive due diligence team working with our in-house multi-disciplinary technical team with experts in solar, wind, planning, environment, construction, and asset management.
These teams have successfully obtained planning consent for Scotland’s largest solar PV project, completed lender’s advisor roles for large scale solar PV projects (~100MWs) in as little as 10-days and continues to undertake construction management, owner’s engineer and asset management assignments for a range of solar clients.
To find out more about our technical due diligence services or request support please get in touch.
*About Severn Trent Green Power
Severn Trent Green Power operates the UK’s leading food waste recycling and green waste composting network, as well as managing a diverse portfolio of renewable energy assets.
As the largest producer of renewable energy from food waste in England and Wales, Severn Trent Green Power provides cost-effective and sustainable recycling solutions through our award-winning network of facilities across the Midlands, South Wales, the South West and the Home Counties.
At Severn Trent Green Power our waste recycling services will help your business increase recycling rates, reduce CO2 emissions, and prevent as little waste as possible going to landfill. This means you get the best value for money, while reducing the impact your operations have on the environment.
We have 11 Anaerobic Digestion (AD) facilities, and four composting sites that collectively recycle around ½ million tonnes of organic waste each year.
Through our organics recycling we annually produce 279GWh of green energy to power UK homes and businesses, 400,000l of nutrient-rich liquid bio-fertiliser for UK farmland, and 50,000 tonnes of premium grade compost products, creating a real circular economy.
In addition, we own a diverse portfolio of renewable energy production facilities including 33 Solar parks, six wind turbines, and three hydro-electric turbines. Coupled with the energy we generate from our AD facilities, we produce enough renewable energy to power 111,000 homes.