Melbourne, Australia 1 February 2024 – DNV, the independent energy expert and assurance provider, acted as the technical advisor for Beijing Energy International (BJEI) Australia for their recent acquisition of five solar farms from Lightsource BP, which are strategically located across three states in Australia. The portfolio consists of three operational projects (Woolooga, Wellington South and West Wyalong) and two under construction (Wellington North and Wunghnu). All five of the assets, totalling over 1GW in PV capacity, have the option to integrate battery energy storage systems (BESS) in the future.
As the technical advisor, DNV provided comprehensive buy-side technical due diligence services to BJEI. The scope of work encompassed site inspections, independent energy yield analyses, grid connection assessments, environmental evaluations, CAPEX and OPEX analyses, asset life reviews and operational and maintenance (O&M) reviews. Leveraging its dedicated renewable energy experts, DNV teams collaborated to deliver in-depth technical due diligence and risk assessment of the assets, supporting the valuation of the portfolio.
“We were delighted to support the BJEI Australia team on this transaction and help them achieve financial close on such a large and significant portfolio. We look forward to the opportunity of potentially supporting BJEI Australia in the future as they look to expand their existing clean energy business across multiple technologies such as wind, solar PV and BESS assets,” said Matthew Forwood, Country Director, Australia & NZ, Energy Systems at DNV.
“We extend our congratulations to BJEI Australia on the successful acquisition of these significant solar assets,” said Brice Le Gallo, Vice President and Regional Director APAC, Energy Systems at DNV. “Assurance and risk management providers like DNV play an important role in supporting the ambitions of developers to deliver on ambitious climate targets. In this regard, we are in alignment with BJEI Australia’s commitment to sustainability and share in their mission to advance renewable energy initiatives in Australia.”
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