The client – an international company active in the area of renewable energies in the countries of western, central and eastern Europe – planned to build a photovoltaic (PV) power plant in the south of Slovakia with the total installed output of 3.99 MWp.
For the purpose of its financing it asked the bank for a loan. The bank subjected provision of the loan to supplying the energy audit, which would objectively demonstrate the estimated production of the PV power plant in the course of its whole lifecycle and independently evaluate the economic return on the investment.
Based on the documentation delivered by the client, we established what analyses would have to be carried out. We evaluated the site in terms of solar energy exploitation by assessing long-term climate data from four independent meteorological sources, which ensured high precision of the data used in later calculations. We assessed the risks ensuing from the site location, which would affect the functionality of the power plant and thereby also the economy of the whole project (risk of floods, dustiness and environmental pollution). In the landscape analysis, we evaluated its diversity, reflectivity, horizon and nearby barriers, which directly affect the quantity of produced power. We also assessed the appropriateness of the selected technology of the power plant (panels, inverters, substructures, electrical connection and so on) and the reliability of individual suppliers.
Based on results of the analyses and the created model of the PV power plant, we calculated its estimated annual production, production efficiency and system losses. From the estimated production parameters, we produced detailed economic evaluation of the project and calculated cash flow, NPV, IRR and ROI.
The energy audit demonstrated that the planned project of the PV power plant has an objective period of return of 10 and half years. Considering the results of the independent assessment, the bank approved the loan for the client in the course of next few days.
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