Leading renewable energy consultancy and service provider Natural Power has completed buy-side technical due diligence on behalf of Octopus Energy Generation (Octopus) for its acquisition of the 80 MW Stronghold solar portfolio in France.
Image Credit: Natural Power
Commissioned during 2024, the portfolio comprises two 40 MWp solar farms sited on former military bases which have been re-designed for sheep farming; one is located in the Indre region in central France, and the other in Charente Maritime in south-west of France.
Octopus has acquired these two newly operational solar farms from BayWa r.e France. on behalf of the Sky Fund (ORI SCSp).
Wiliam Delabre, Head of Solar at Natural Power, said: “We’re delighted to have supported Octopus in this strategic acquisition. At Natural Power, we’re committed to enabling the successful deployment of solar energy across Europe, supporting the transition to a more sustainable energy system, and the Stronghold portfolio represents a great example of how solar energy can be integrated into existing landscapes while delivering clean, renewable power.”
Natural Power’s technical due diligence role encompassed a two phased approach including:
- A review of the engineering, procurement and construction (EPC) and operations and maintenance (O&M) agreements
- Full technical due diligence with reviews of the project technology, design, permits, grid connection, route to market, operational, and financial model.
Ismaël Tougui, Investment Director at Octopus Energy Generation, said: “We are pleased to have worked with Natural Power on the successful acquisition of these two solar projects. Their technical expertise and responsiveness were invaluable throughout the process, and we look forward to continued collaboration on future projects.”
With solar power being the largest renewable energy sector in the world, Natural Power has built a specialist team of solar energy experts that can look at the potential and development of new solar sites and deliver solar projects. It offers support and advice on the successful development of solar and energy storage projects, from early-stage feasibility analysis to repowering and the optimization of existing asset performance.