TÜV Rheinland - E3
TÜV Rheinland - E3

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Technical Due Diligence for PV Power Plant in Chile

  • Basic facts

    ClientEPC EFACEC Portugal, Promoter Rijn Capital Chile
    TimeframeNovember 2014 – May 2015
    Project locationAntofagasta, Chile
    Main servicesIndependent Technical Due Diligence

     

    The Portuguese engineering, procurement and construction firm EFACEC and partner Rijn Capital of Chile required inspection services for investments in a photovoltaic (PV) power plant project in Chile. TÜV Rheinland single-handedly provided all services necessary for Independent Technical Due Diligence in order to establish compliance with international regulations and prove the bankability of the multinational project. The Lender’s Technical Advisor applied the TÜV Rheinland reports as integral part to advice on whether credits for the project should be granted.

    Initial situation and requirements

    Increasingly concerned about real assets, banks are demanding independent technical advisor warranties ensuring project bankability before approving any financial support. With so much on the line, recognized brands able to provide local and global inspections operations are preferred. With an accredited network of 6 laboratories worldwide as well as extensive experience and expertise in technical due diligence, TÜV Rheinland is a capable, qualified and recognized service provider.

    This joint EFACEC and Rijn Capital Chile project planned to set up a PV plant of 33 MW in the Atacama Desert, Chile. TÜV Rheinland supported this project with inspection services for products and construction to ensure bankability. The difficulty lay in the geographical distribution with a Chinese PV modules manufacturer, European inverters and components suppliers, a Portuguese EPC and a local investor working to construct the plant in Chile. Although services were performed in several different countries distributed all over the world, all were provided from a single source – TÜV Rheinland.

    Solutions, results

    TÜV Rheinland was asked to perform two different phases of support. Phase one focused on controlling the quality of the PV module production on site in China, by means of factory inspections, visual inspections of the modules and laboratory tests for selected samples. TÜV Rheinland was also asked to evaluate the contracts between the PV module manufacturer and the EPC regarding deadlines, services, legal requirements and warrantees (PV module life time and degradation during life time).

    Our experienced TÜV Rheinland experts also evaluated the calculation performed to determine the plant energy production (Power Yield) and performance (Power Ratio) estimation.

    Phase two included the inspection of products arriving in Chile and inspections for the commissioning and acceptance phases.

  • Benefits for the client

    TÜV Rheinland supported EFACEC and Rijn Capital Chile with:

      Intensive fault detection, ensuring quality, safety and performance.

    •    Providing quality assurance according to national and international
         standards.
    •    Intensive fault detection, ensuring quality, safety and performance.
    •    Impartial and independent assessment to warrant the plant a sound
         financial investment (Proof of Bankability).
    •    A complete technical due diligence report with high recognition value
         thanks to the TÜV Rheinland brand.

    Did you know

    EFACEC Group is the largest Portuguese corporation operating in electro mechanics and electronics. Clean energy investor Rijn Capital Chile has secured US$104 million in construction financing for this project from CorpBanca, the country’s third largest commercial bank.

    About TÜV Rheinland

    Founded 140 years ago, TÜV Rheinland is a global leader in independent inspection services, ensuring quality and safety for people, the environment and technology in nearly all aspects of life.

    We inspect technical equipment, products and services, oversee projects and help to shape processes for companies around the world. Since 2006, we have been a member of the United Nations Global Compact to promote sustainability and combat corruption.

    TÜV Rheinland has more than 30 years of experience in Photovoltaic with more than 200 experts worldwide and > 12GW inspected. Due to our extensive experience with solar power plants, we can help and support you in all project phases and ensure plant safety and reliability. We can also support you in achieving and maintaining profitability for large-scale PV systems and solar thermal power plants – from choosing the right site to full-scale operations.

    We offer you a comprehensive range of services related to PV plants, including site assessment and inspection, supervision of construction, plant monitoring with yield check and yield evaluation, and unit inspections.

    Need more information? Do not hesitate to contact us!

    TÜV Rheinland Energie und Umwelt GmbH
    Solar Energies Department

    Get in contact
    Web: www.tuv.com/photovoltaics