Customer
EIG Global Energy Partners
EIG Global Energy Partners is a private equity firm specializing in growth capital and buyout investments. The firm invests across the entire energy value chain. Amongst others, it invests in upstream and midstream oil and gas, energy related infrastructure and transmission & distribution, renewables power generation and resource projects and companies. The firm can invest from USD 100 million to more than USD 1000 million in its portfolio companies and USD 50 million and USD 200 million in the geothermal sector. The firm focuses on engineering and developmental risks and not geological and exploration risks. It seeks to make control investments. EIG Global Energy Partners was founded in 1982 and is based in Washington, District Columbia.
Challenge
Prior to the project construction phase, EIG required independent engineering services to analyse the status and feasibility of two Concentrated Solar Power (CSP) projects. Later, DNV was required to perform a monthly analysis of the construction progress.
Approach
In the first phase, DNV analysed the information provided by the project sponsor related to the project design, solar resource and projected annual energy output in order to assess the technical feasibility of the projects. During this phase DNV also verified the suitability of the site and environmental conditions. A detailed analysis of the main project agreements as EPC, O&M, PPA and grid connection was performed. Finally, DNV also gave comments to the financial model and project risks provided by the sponsor. During the project construction phase, DNV performed a close monitoring of the main construction activities in order to identify potential risks which could hamper the achievement of the project conclusion on time and within budget.
Value to the Customer
Firstly our analysis support to EIG enabled them to make a decision in terms of investment on these CSP projects. Later, during the construction phase, the EIG received monthly reports summarizing the most relevant information related to the work progress and main issues for the period.