Glennmont Partners – Tosca

Italy
2019

Technical Due Diligence for Selling Process: GlennMont PV portfolio composed by 3 PV plants for a total power of about 85,4 MW

Project
Glennmont Partners, holder of the Glennmont Clean Energy Fund Europe I fund, which has combined investments in the European wind, solar panel and bio-energy markets, has sold to Tages Capital, a leading international investor in the renewable energy sector, a portfolio of three onshore solar panel systems, located in the Veneto and Lazio Regions (‘Tosca’ portfolio) for a total of 85.4 MW. The three systems – Enersol (48.0 MWp), Megasol (13.2 MWp) and Phenix (24.2 MWp), began operation in 2011. With the acquisition, Tages Capital Sgr, via its Tages Helios infrastructure funds that are wholly dedicated to the solar panel sector, and Tages Helios II, launched at the end of July 2018, is now the second largest operator in the solar panel sector in Italy, with a PV portfolio totalling 309 MW.

Activity
#Technical Advisory _ EOS Consulting has been tasked with assisting Glennmont in structuring the asset sale process. In this regard, EOS executed Technical Due Diligence analyses on all systems in the portfolio, which included both inspection on the condition of the components installed on-site, and documentation checks in order to control for any residual technical risks from an administrative procedural point of view. This also included monitoring the evolution of the inspections, conducted or in progress, by the GSE regarding the correct allocation of the incentive tariffs for each system. Moreover, in the largest sale, EOS assisted the Client in the structuring and evolution of key moments in the sales process, beginning with the organisation of the project data-room to the assistance of potential bidders during the selection process, offering its own technical assistance in Q&A and the SPA negotiation between the parties.