Photovoltaic farm project – verification of documentation
Investment in a photovoltaic farm is a serious undertaking that requires careful consideration before implementation. Checking the project documentation, that is Due Diligence of a solar power plant project. Well-drafted documentation is an important factor for the proper implementation of the project, as future owners of photovoltaic farms are well aware. This time we were approached by a company interested in acquiring a 1 MW solar power plant project located near Wroclaw in the province of. Lower Silesia.
Photovoltaic farm project – checking the documentation, or where did we start?
1. general data.
We started the check by verifying the formal data contained in the project. We then analyzed the choice of the plot on which to build the power plant. Both in terms of insolation and also in terms of land records (e.g., whether the lease is registered in the Land Registry). Finally, we checked the provisions of the Environmental Decision and the Development Conditions.
2 Technical design evaluation.
We also made sure that designs, schematics and drawings were clear, accurate and in compliance with applicable regulations and standards. We also verified the Connection Conditions (also in terms of the selection of photovoltaic panels and inverter). JinKo 450W panels and HUAWEI SUN2000-215KTL-H0 inverters are components approved by the Connection Conditions issued by Tauron. The validity of the connection conditions is irrelevant, as we have a signed connection agreement. Therefore, an important one, subject to verification by Us, is the schedule specifying the date of connection of the farm to the grid. Here it has been set for November 2024.
Solar power plant project – is it worth it?
Profit calculation and payback period is also an element that we were able to verify for the client. Assuming the cost of purchasing the solar power plant project, building it, and supplying the facility with services to ensure its optimal operation of the service (i.e. O&M services) and the potential profit (revenue from the sale of the energy produced), we were able to give the client an estimate of the return on that investment.
Results:
Careful examination of the documentation of the photovoltaic farm project allowed us to mark for the client the points to which special attention should be paid. What needs to be meticulously attended to and potential failure-prone areas identified. In the case of this project, we noted a potential hazard, an area that, according to the documentation, can flood once every 10 years. This information is extremely important from the point of entering into an insurance contract. Therefore, despite the correctness of the drafting of the documentation, a sufficiently long deadline for the construction and connection of the farm to the network, the project did not receive our recommendation.
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