The bankability of new projects will be critical in the mission to decarbonize power – especially projects as big as The Centrale Electrique de l’Ouest Guyanais. Assurance will be at heart of proving the case for lenders.
What is the story?
The Centrale Electrique de l’Ouest Guyanais (CEOG) is a major power decarbonizing project. It will combine photovoltaic energy and 128MWh of storage in the form of hydrogen to supply renewable energy to the equivalent of 10,000 homes in Western French Guiana. It will prevent the emission of 39,000 tons of CO2 per year.
Acting as the lender’s assurance adviser, DNV’s multidisciplinary team evaluated the project’s technical risks and mitigation measures, and advised broadly on the technical status including:
the project description
site assessment
the license and environmental permits
the energy production modelling
the design and technology review assessing PV modules, inverters, battery, electrolysers and fuel cells.
The work spanned the grid, power purchase agreement and financial model review, the engineering, procurement, and construction and operations and maintenance agreements.
Being recognized as bankable with Technical Due Diligence performed by DNV is a success which strengthens our capability to develop and get financing for our worldwide pipeline of hydrogen power projects. DNV’s team has excellent competences about hydrogen and hybrid power plants. They brought deep insights about the technology and supported the project from the beginning.
Damien Havard
CEO
HDF Energy
Construction began in autumn 2021 and commissioning is scheduled for early 2024. It is estimated that it will generate sales of around 17 million euros for local businesses.
