Natural Power has finalized technical vendor due diligence services for UNITe Group's solar projects, known as the Niagara Project, aimed at attracting new investors to fund the development of its photovoltaic (PV) portfolio. This initiative marks UNITe's diversification into solar, including agrivoltaics, and the establishment of power supply agreements.
The portfolio reviewed by Natural Power includes operational wind assets totaling 26MW, operational solar assets of 18MW, and a development pipeline comprising 4MW of wind projects and 191MW of PV projects across France.
Axelle Foix, Senior Due Diligence and Project Lead at Natural Power, emphasized their role: “Having previously supported UNITe with advisory services, we leveraged our local team's extensive experience in France for this project. We are closely monitoring the emergence of agrivoltaics as a new market standard, analyzing technical and environmental aspects to assess project viability under regulatory guidelines.”
Foix highlighted the regulatory framework: “By reviewing compliance with decree no. 2024-318 of 8 April 2024, we assess synergies between agricultural activities and energy production, contributing insights for project design and permitting.”
Simon Duhamel, Chief Financial Officer of UNITe Group, underscored the significance of Natural Power's expertise: “The successful completion of this due diligence underscores Natural Power's role in ensuring the technical and environmental feasibility of our renewable energy initiatives. Their contributions have bolstered investor confidence, supporting our growth in sustainable energy solutions.”
In addition to the technical review of operational and development assets, Natural Power will provide post-construction energy yield assessments for wind farms and solar plants, along with pre-construction assessments for upcoming wind projects, reinforcing their ongoing partnership with UNITe Group.
