DNV GL served as Independent Engineer for the disposition of KKR’s 33.33% equity stake in Acciona Energía Internacional
Acciona Energía Internacional is a global portfolio of renewable energy assets totaling 2.5 GW
Madrid, Spain, 17th August 2020 – DNV GL, the world’s largest resource of independent energy experts and certification body, carried out a vendor’s technical due diligence on behalf of Kohlberg Kravis Roberts & Co. Partners LLP (KKR) for divestment purposes from a global portfolio of renewable energy assets, Acciona Energía Internacional, where KKR held a 33.33% stake and with Acciona S.A. as a majority shareholder.
The portfolio consists of 49 wind farms, two solar PV plants and one concentrated solar power plant, all in operation, located across eleven countries and totaling around 2.5 GW of installed capacity.
Acting as a technical advisor throughout the transaction phase, DNV GL’s team of experts ensured a quick and experienced assessment of the project’s risks and opportunities. The scope included the assessment and review of aspects such as energy production, technology, operation and maintenance arrangements, historical performance and remaining lifetime.
Following the due diligence process, the transaction was successfully closed in April 2020.
According to the International Renewable Energy Agency (IRENA), the landscape of renewable energy finance has evolved rapidly which means that more investment in renewables would reduce energy-related carbon emissions, a key element in efforts to limit global warming below 2°C as stabilized in the Paris Agreement.
The global energy transition requires a significant increase in renewable energy investment compared to current levels. Although renewable energy technology costs have been falling progressively, underlying market barriers and a perception of high risk still constrain the development and financing of renewable energy projects in many parts of the world.
“The energy finance sector is poised to change dramatically in the next few years, been able to be part of the evolution and the growth of the market is key to our team. Scale assignments like this reinforce our focus on helping to move the energy transition faster together and are highly responsive to policy changes”, said Andreas Schröter, Executive Vice President Central Europe and Latin America at DNV GL – Energy.
About DNV GL
DNV GL is a global quality assurance and risk management company. Driven by our purpose of safeguarding life, property and the environment, we enable our customers to advance the safety and sustainability of their business. We provide classification, technical assurance, software and independent expert advisory services to the maritime, oil & gas, power and renewables industries. We also provide certification, supply chain and data management services to customers across a wide range of industries. Operating in more than 100 countries, our experts are dedicated to helping customers make the world safer, smarter and greener.
DNV GL delivers world-renowned testing, certification and advisory services to the energy value chain including renewables and energy management. Our expertise spans onshore and offshore wind power, solar, conventional generation, transmission and distribution, smart grids, and sustainable energy use, as well as energy markets and regulations. Our experts support customers around the globe in delivering a safe, reliable, efficient, and sustainable energy supply.
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