Tales of BESS #9 - Case study: Technical Due Diligence on two Greek BESS projects: Totaling 200MW / 400MWh (GRC)

As the Lender Technical Advisor, Greensolver conducted Technical Due Diligence for two standalone BESS assets 100MW/200MWh in the context of the project’s financing.

The scope of the work covered:

• Regulatory:
  • Review of grant requirements and tracking of its development
  • Application of evolving regulatory requirements to technical specifications and financial model
• Technical:
  • Review of Narada’s BESS
  • Review of the permits and licenses
  • Site Assessment and Review of the proposed layout
  • Design review and capacity to operate on primary reserve markets
  • Contracts review (Supply Agreement, EPC, O&M, LTSA, and Aggregation)
  • Augmentation Strategy Evaluation
  • Review of grant compliance
• Financial:
  • Review of the financial model, validating assumptions and proposing suitable parameters where required CAPEX, OPEX, budgets, revenues)
  • Review of grant compliance

Through the Greensolver’s audit of the project, the technical review resulted in:

• Site layout and system design revision, ensuring regulatory and grant compliance
• Financial Model parameters revision, reflecting realistic-world conditions and up-to-date market information.

Written by Nikko Talplacido