Inea Consulting Ltd. has advised on over 760 MW (0.76 GW) of renewable energy transactions across the CEE region since 2008, offering integrated technical, financial and market advisory services to investors and lenders

/SOFIA, February 9, 2022, 10:00 CET, Inea Consulting Ltd./

Inea Consulting Ltd. is pleased to announce the successful completion of technical due diligence (TDD) and the development of an optimal conceptual technical layout for a 32 MW solar photovoltaic power plant project on behalf of an international investor. Upon the planned acquisition of the solar power plant from a local developer, the project sponsor required support from an experienced consultant, such as Inea Consulting Ltd., and appointed the firm as a technical advisor (TA) to conduct third-party, independent Technical Due Diligence (TDD). 

This technical due diligence (TDD) summarizes the results of the analyses performed, based on the site visit and documentation received up to the date established with the Project Company, to provide a clear account of the most complex technical elements as regards the site suitability, site access, preliminary permitting and plant’s design, that might influence the project’s realization and profitability, to supply an overall technical evaluation of the project’s residual risks. Adhering fully to the scope of work outlined, an assessment of the basic assumptions in the existing feasibility study for grid connection was also performed to support the project sponsor in its decision-making process for acquiring partial or complete shares of the Project Company.

The project's development occurs at a time when Bulgaria needs to quickly increase its contribution to solar photovoltaic energy in the power mix, supporting the Bulgarian industry and economy during the post-COVID-19 recovery period. The technical due diligence process was comprehensive and meticulous, ensuring that every aspect of the project was thoroughly evaluated.

Inea Consulting’s team of experts conducted an in-depth analysis of the project's technical feasibility, environmental impact, and financial viability, including:

• Site Assessment: The first step involved a detailed site assessment to evaluate the solar resource, topography, and accessibility. The site assessment covered the expected grid connection point, the proposed cable route, and the proposed MV/HV substation site, including drone photographs and videos of the visible infrastructure (e.g., the MV/HV substation, nearby OHL steel towers, etc.). The adequacy of the solar power plant design and proposed technology in relation to site conditions was explored in detail. Inea Consulting’s team inspected the access to the site and the condition of the existing road(s) to facilitate the movement of trucks and other machines for the delivery of solar power equipment, engineering, procurement and construction (EPC) and the operation and maintenance (O&M) of the proposed photovoltaic power plant.
• Environmental Impact Analysis: Inea Consulting’s team conducted a thorough environmental impact analysis to ensure that the project adheres to all environmental regulations and standards. This included assessing the potential impact on local birds and habitats, as well as developing mitigation strategies to address these concerns.
• Technical Feasibility Study: A comprehensive technical feasibility study was carried out to evaluate the suitability of the proposed solar PV modules and inverters and the integration with the local grid infrastructure according to the requirements of the Transmission System Operator (TSO). Inea Consulting’s team provided comments on the technical aspects of the granted permits and authorisations required for the operation of the solar PV project. This study also included an assessment of the project's operational and maintenance requirements.
• Financial Viability: The financial viability of the project was assessed through detailed cost-benefit analyses, including capital expenditure, operational costs, and revenue projections. This ensured that the project is not only technically feasible but also economically sound.

Optimal conceptual technical layout elaborated by the team of Inea Consulting Ltd., included:

• Electrical part 

The electrical part of an optimal conceptual technical layout for a solar photovoltaic (PV) power plant is critical for ensuring efficient energy generation, conversion, and grid integration. Below is a detailed breakdown of the key components and considerations for the electrical layout of a solar PV power plant:

- Solar PV Array (Solar PV Modules)
- DC Combiner Boxes
- Inverters
- AC Combiner Panels
- Transformers/Medium Voltage (MV) Switchgear
- Grid Connection Point
- Earthing and Lightning Protection
- Auxiliary Power Supply
- Safety and Compliance

• Geodesy part

The geodesy (or geodetic surveying) component of a solar photovoltaic (PV) power plant is essential for ensuring the accurate placement, alignment, and optimisation of the plant's infrastructure. Geodesy involves measuring and mapping the Earth's surface to provide precise spatial data for the design, construction, and operation of the solar PV plant. A Leica TS total station was used in our geodesy survey to receive accurate information for building an elevation model of the terrain.

• Architectural part

The architectural part of an optimal conceptual technical layout for a solar photovoltaic (PV) power plant focuses on the functional, aesthetic, and integrative design of the plant’s built environment. While solar PV plants are primarily industrial facilities, architectural considerations ensure efficient land use, visual harmony, safety, accessibility, and integration with the surrounding environment. Below are summarised key architectural principles for solar PV power plants:

• Functionality: Prioritise operational efficiency and ease of maintenance.
• Sustainability: Use eco-friendly materials and designs that minimise environmental impact.
• Safety: Ensure all structures and pathways meet safety standards.
• Aesthetics: Integrate the plant visually with its surroundings.
• Community Acceptance: Engage with local stakeholders to address concerns and enhance acceptance.
• Flexibility: Design for adaptability to future technological or capacity changes, or adding a battery energy storage system (BESS).

The land plots of the Project Company allow the construction of up to 32 MWp of installed solar photovoltaic power capacity. The project follows the current European trend of an increasing number of utility-scale projects developed over hilly terrains with imperfect forms and lands with poor fertility and quality. These projects typically occupy lands that cannot be used for agricultural activities, forestry, or plant growing, and the environmental impact of the projects is minimal.

The successful completion of Technical Due Diligence (TDD) for the 32 MWp solar project in Bulgaria represents a significant achievement for Inea Consulting Ltd. This accomplishment highlights the company's expertise in renewable energy projects and its commitment to sustainable development. As the investor advances with the acquisition of the project, it is expected to make a substantial contribution to Bulgaria's renewable energy sector, particularly in solar power, and to establish a benchmark for future solar projects. Inea Consulting Ltd. would like to express its gratitude to all stakeholders involved in this process, including our dedicated team of experts, local authorities, and community members. Their support and collaboration have been crucial in reaching this milestone.

About Inea Consulting Ltd.

Inea Consulting Ltd. is a well-established European renewable energy advisory firm headquartered in Bulgaria, with a network in Austria, Germany, the UK, Italy, France, the Netherlands, North America, the UAE and other countries. The company's mission is to provide premier engineering and investment advisory services to clients operating regionally and internationally in the fields of cleantech investments, mergers and acquisitions, business development, and project finance.

Inea Consulting Ltd. is a leading player in Central, Eastern, and Southeastern Europe, with a proven track record of delivering technical due diligence and related advisory services. We are committed to driving the transition to sustainable energy and contributing to a greener, more sustainable future.

For more information on the company’s services related to technical due diligence, please view here: Due Diligence and Advisory