Customer
VTB Capital
VTB is a leader in the international investment banking sector in Russia. The company offers a wide range of services on both the Russian and international capital markets. VTB Capital has taken part in more than 700 Equity Capital Market and Debt Capital Markets deals, which have attracted in excess of USD 244 billion worth of investments into Russia and the CIS countries. VTB Capital was one of the top three investment banks in Central and Eastern Europe since 2009. VTB Capital operates in London, Singapore, Dubai, Hong Kong, Sofia, New York, Zug, Paris, Vienna, Frankfurt, with headquarters in Moscow.
Challenge
Client needed a technical due diligence (TDD) including construction monitoring for financing 4 PV plants in Ukraine.
Approach
Provide a full TDD, site inspections, design review, energy production assessment, technology review, Engineering Procurement and Construction contracts, Operation & Maintenance contracts and financial model review, construction monitoring, performance ratio protocol, provisional and final acceptance. DNV monitored the construction of the project during multiple site visits.
Value to the customer
DNV’s goal was to provide independent technical advice to the lenders for understanding the risks and the mitigation measures during the construction of the solar PV plants.