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Location of the 33MW Ohorayama wind farm in Kochi Prefecture, Japan.

First project financed wind farm in Japan

Achieving project finance for the 33MW Ohorayama wind farm located in Kochi Prefecture.

ClientGreen Power Investment /
Bank of Tokyo Mitsubishi /
Sumitomo Mitsui Banking Corporation /
Sumitomo Mitsui Trust Holdings
ExpertiseLender's engineer /
technical advisor

Opportunity

Green Power Investment Company is developing a wind project in Kochi Prefecture. Mott MacDonald were appointed as an independent engineer by the project’s lenders. Our role was to conduct due diligence and provide a comprehensive report reviewing all the technical aspects of the project and to confirm to the lenders that all project risks were properly mitigated.

Solution

Mott MacDonald reviewed financial, technical and environmental assumptions made by the sponsor, including carrying out a technology assessment to learn the design and certification status for the proposed wind turbine generator.

In parallel, Mott MacDonald reviewed the contract for supply of wind turbines, with a focus on provisions for warranties and performance guarantees provided by the turbine supplier.

On conducting a thorough review of the project’s contracts and engineering plans, Mott MacDonald made several recommendations to the lenders to improve specific terms in several contracts. We provided the lenders with several scenarios to be analysed in the economic model for the lenders to evaluate down-side cases.

Outcome

With the support and information provided by us, the lenders were able to close the financing within the sponsor’s timeline. Ohorayama wind farm successfully achieved financial close and is now under construction.

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