THE GROUP

FICCI
Lessons Learned for India

Dr. Martin Stickel

 The Fichtner Group

Established in 1922 and family-owned ever since

Germanys biggest independent engineering and

consultancy enterprise

More than 1800 employees worldwide

over 500 in our Home Office

Over 500 in India (Chennai, Mumbay, Delhi)

Project experience in 150 countries, over 1200 ongoing projects

650 of these in our Home Office

Total turnover of 196 million in 2009

Capital investment volume now under planning in the home office:

60 billion of which some 12 billion is in renewable energies
2
 Worldwide Presence

We are represented in over 50 countries with subsidiaries and affiliates,

branches and project offices
3
 Fichtner's Areas of Activity

Energy
Energy economics power plants renewables district heating
energy transmission and distribution I&C and power system technology
oil & gas energy management electric mobility
energy-purchasing portfolio management

Environment
Environmental management environmental technology
environmental information systems waste management
soil and water protection air pollution control
sustainable development emissions trading

Water & Infrastructure

Total water management drinking water supply and sanitation
surface and engineering structures traffic, transportation and civil engineering
mining and mineral economics integrated infrastructure concepts

Consulting & IT
Studies organization and strategy consultancy privatizations
project management financial modeling infrastructure management
4
IT consultancy and services geo-solutions
 Total Turnover of Fichtner Group, 2009

By business sector
Energy 109.5 m
Environment 23.4 m
Water & Infrastructure 29.0 m
Consulting & IT 33.7 m
Total turnover 2009 195.6 m

By region
Germany 68.9 m
Europe and CIS 32.7 m
Africa 27.5 m
Middle East 27.1 m
Latin America 7.2 m
Asia, Australia 32.2 m
Total turnover 2009 195.6 m
5
 Renewable Energy Technologies

Photovoltaic

Solarthermal power

Hydropower

Wind power

Geothermal power

Solid biomass

Sewage and landfill gas

Biogas

Biomass to Liquid (BtL)

Fuel Cells

6
 Present PV Highlights
About 20 PV projects ongoing at present, mostly due diligence services on behalf
of financing institutions and investors as well as owners engineering services,
among others:

3 projects in Spain

>10 projects and project pipelines in Italy

1 project pipeline in the Czech Republic

1 project in Qatar (test facility for solar equipment)

4 projects in Bulgaria

1 project pipeline in Canada

2 projects in Peru

1 project in United Kingdom

1 project in Chad

1 project in Ukraine

1 project in Turkey

1 project in Thailand

1 project in India

Technology / reliability studies on behalf of reknown and innovative PV module

producers (thin film and crystalline)
In total above 500MW installed capacity, i.e. CAPEX >>1bn; inter alia Europe
largest PV plants (Rovigo >70WM, Montalto di Castro >80MW in total)
For research related fields long term colaboration with Centre for Solar Energy
7
and Hydrogen Research (ZSW) in Stuttgart.
 PV Due Diligence Services Typical Project Structure

Investor

Lender Equity Insurance

company
Loans Policies

Solar Project Operation

Project
Developer Rights
Special Purpose Contract Management
Vehicle (SPV)

Power purchase O&M Contract

agreement

EPC Contract
Utility
Service
Company
EPC contractor(s)

Objectives:
 Implementation of a long life power plants with high energy yield and availability
 Proper and safe operation complying with the relevant requirements
 Low cost, high return on investment
8
 Due Diligence Services in PV Projects
Preliminary Phase I: Pre-Financial Close Due Diligence - I
DD
1. Preliminary Due Diligence
Yield
Suitability of the key plant components (modules, inverters)
Projection
Rough verification of the plant key data (size of the site, installed capacity)
Full Due
Diligence 2. Yield Projection
Input
Construction
Irradiation data to be expected on site based on the best available sources
Monitoring
Site inclination
Project design (e.g. inclination and positioning of the modules, partial shading
Verification of Actual characteristics of the plant key components (including temperature behavior
Construction of the modules, part load characteristics of inverters and transformers)
Completion
Output
Prov. & final Annual electricity production (MWh/a; kWh/kWp/a)
Acceptance Probability cases (e.g. P50, P75, P90)

Operation
Phase
9
 PV Performance Projection - Example

10
 PV Performance Projection - Example

11
 Due Diligence Services in PV Projects
Preliminary Phase I: Pre-Financial Close Due Diligence - II
DD
3. Full Due Diligence
Yield
Projection Suitability of site (site visit)
Technical concept
Full Due Plant layout
Diligence Key components
Grid connection
Civil works / structural verification
Construction
Security and surveillance
Monitoring
Project structure and obligations of project parties, project management
Contracts / project agreements (EPC Contract, component supply contracts, O&M
Verification of Contract)
Construction Adequacy of the technical warranties and verification procedures e.g.
Completion Guarantees of Contracts / liquidated damages provisions
Performance test, availability, technical characteristics
Prov. & final Project time schedule
Acceptance Permits and licenses (status, constraints, etc.)
Technical input data for the financial model
Operation CAPEX & OPEX / Capital replacement
Phase Electricity yield
12
 Due Diligence Services in PV Projects
Preliminary Phase II: Construction Monitoring
DD
Construction monitoring (compliance with contract / specifications)
Yield Compliance with project schedule
Projection Review of EPC contractors / owners progress report
Site and workshop inspections
Full Due Preparation of monthly or quarterly progress reports and progress certificates
Diligence
Phase III: Testing and completion (provisional and final acceptance)
Construction Review of commissioning and of trial operation
Monitoring Attendance and monitoring of the performance and reliability tests
Review of performance test results in view of liquidated damages requests
Verification of PV plant installation and mounting inspections
Construction
Certification of completion
Completion
Phase IV: Monitoring during operation
Prov. & final Preparation of (semi-) annual operating status reports including
Acceptance
operating performance (availability, power performance, energy yield)
Operation maintenance and extraordinary events
Phase O&M budget verification
13
 Site Assessment

Source: Google Maps

14
 Sensitivity of Direct Normal Irradiation

25%
Thin film
20%
Monocrystalline
15% Polycrystalline
Change of LEC

10% Parabolic trough

5%

0%

-5%

-10%
1,254 1,463 1,671 1,881 2,089 2,299 2,508 2,716 2,926
DNI [kWh/a]

15
 Assessment of Costs
Example: Johannesburg, South Africa
0.25

0.20
LEC [/kWh]
/kWh]

0.15
fixed
0.10 1-axis
2-axis
0.05

0.00
Thin film Poly- crystalline Mono- Parabolic
crystalline trough

16
 Summary
Industry

No better technology but project specific technology selection

Size, topography, irradiation (global / direct), Accessibility, grid condition

Feed-in tariffs

Relevance of dispatchability / storage

Sound engineering and design required for each project

Thorough project development and due diligence process

Bankable EPC and O&M Contracts

performance and plant acceptance criteria and procedures

liquidated damages and incentive schemes

Reliable Yield Forecasts

Framework

Reliability of framework is key is basis for planning

Tariffs, PPAs

Permitting

Project financing conditions
17
Selected References:
Photovoltaic Power Plants
 Photovoltaic Power Plants (1/3)

Expert Appraisal of PV Park Yield, Italy

Independent Engineer for 21.8 MW PV Solar Power Plant, Srem, Bulgaria

Independent Engineer for a 2.5 MW Solar PV Power Plant in Pchelarovo, Bulgaria

Independent Engineer for a 3.8 MW Solar PV Power Plant in Kalipetrovo, Bulgaria

Independent Engineer for a 3.55 MW Solar PV Power Plant in Drachevo, Bulgaria

Technical Due Diligence for Energy 21 Project, Czech Republic

Technical Advisor for 5 PV Plants, Sicily, Italy

Technical Due Diligence for a 24 MW Photovoltaic Power Plant, Italy

Lenders Technical Advisor Services for Montalto Solar PV Power Plant, 9 MW, Italy

Lenders Technical Advisor Services for Montalto Solar PV Power Plant, 53

MW, Italy

Lenders Technical Advisor for 4 projects in Spain

19
 Photovoltaic Power Plants (2/3)

Technical Advisor for Pipeline of Photovoltaic in Apulia, Italy

Consultancy Services for the implementation of a Solar Test Facility within the
area of Qatar Science & Technology Park, Qatar

Yield Projection for a Photovoltaic Project, Italy

Pre-feasibility Study for Solar Photovoltaic Power in Florida, USA

Due Diligence on behalf of Institutional Investor in the Czech Republic

Due Diligence for a 20 MW Plant on behalf of Financing Bank, Spain

Feasibility study for Photovoltaic Power Plants, Italy

Technical Advisory Services for a 10 MW Photovoltaic Power Plant, Italy

Due Diligence for a 5 MW Photovoltaic Power Project, Italy

Pre-Feasibility Study for a Photovoltaic Power Plant, Italy

Independent Engineering Services, Italy

Lenders Engineering Services for a 3 MW Photovoltaic Plant, Italy

20
 Photovoltaic Power Plants (3/3)

Lenders Engineering Services for two 5 MWp Photovoltaic Power Plants, Italy

Independent Technical Advisor Services, Italy

Technical Advisor Services for 4 Photovoltaic Power Plants, Spain

Pre-Due Diligence Development of 20 MWp photovoltaic project, Spain

Consulting Services for an Investor

Preliminary Due Diligence for a PV Project, Italy

Preliminary Due Diligence for a PV Project, Italy

Independent Lenders Technical Advisor Services, Spain

21
 Photovoltaic Power Plants

Expert Appraisal of PV Park Yield, Italy

An EPC Contractor intends to build a PV Plant in

Italy for which Fichtner prepares an expert appraisal
of electricity yield as an input parameter to the EPC
contract. In this context Fichtner:

 checked the conceptual design data

 verified the Clients assumptions for the yield
simulations (meteorological data, shading)
 prepared a yield projections based on PVSYST
(version 5) simulations
Client: Confidential
 including an analysis of uncertainties and the
calculation of probability cases (P50, P75 P90) Period: 03.2010 05.2010
over different time periods.

22 7489P01
 Photovoltaic Power Plants

Independent Engineer for 21.8 MW PV

Solar Power Plant, Srem, Bulgaria

Fichtner prepares a fully-fledged technical due diligence

on behalf of the future lenders. Among others, Fichtner
performed the following tasks, which are reflected in the
technical due diligence report.
 A visit of the project sponsors existing plants and
monitoring center in France
 A verification of the suitability of the site and the
grid connection
 Verification of the Srem plant concept and the
suitability of the plant key components
 A verification of the sponsors operation and Client: Electricit de France (via
maintenance activities Socit Industrielle de
 A detailed yield projection (PVSYST v.5) lAntlantique, Bulgaria) on
simulation and comparison of the results with
sponsors own calculations, considering among
behalf of IFC International
others Clients on-site meteorological Finance Corp. Washington,
measurements DC, USA
 The verification of the main project contracts (EPC UniCredit, Munich,
Contract, O&M Contract, Grid Connection Germany
Agreement)
 Verification of the project time schedule Period: 03.2010 05.2010
23 7481S01
 Photovoltaic Power Plants

Independent Engineer for a 2.5 MW Solar

PV Power Plant in Pchelarovo, Bulgaria

A private developer, owner and operator of solar power

plants assigned Fichtner with the independent
engineering service to the projects financing bank. The
related scope of work is performed in the following
phases:
1. Irradiation yield analysis
 Estimation of irradiation and calculation of
performance ratio
2. Project analysis
 Review of technical concept, O&M/EPC contract
and of permitting situation to ascertain whether the
project is bankable
3. Construction works monitoring
 Monitoring of construction works in comparison with Client: Confidential
the project schedule and of the compliance with key
purchasing agreements Period: 03.2010 05.2010
4. Operation phase monitoring
 Verification of the technical reporting
(production, availability) to the lenders

24 7474S01
 Photovoltaic Power Plants

Independent Engineer for a 3.8 MW Solar

PV Power Plant in Kalipetrovo, Bulgaria

A private developer, owner and operator of solar power

plants assigned Fichtner with the independent
engineering service to the projects financing bank. The
related scope of work is performed in the following
phases:
1. Irradiation yield analysis
 Estimation of irradiation and calculation of
performance ratio
2. Project analysis
 Review of technical concept, O&M/EPC contract
and of permitting situation to ascertain whether the
project is bankable
3. Construction works monitoring
 Monitoring of construction works in comparison with Client: Confidential
the project schedule and of the compliance with key
purchasing agreements Period: 03.2010 05.2010
4. Operation phase monitoring
 Verification of the technical reporting
(production, availability) to the lenders

25 7474S02
 Photovoltaic Power Plants

Independent Engineer for a 3.55 MW Solar

PV Power Plant in Drachevo, Bulgaria

A private developer, owner and operator of solar

power plants assigned Fichtner with the independent
engineering service to the projects financing bank.
The related scope of work is performed in the
following phases:

1. Irradiation yield analysis

 Estimation of irradiation and calculation of
performance ratio
2. Project analysis
 Review of technical concept, O&M/EPC
Client: Confidential
contract and of permitting situation to ascertain
whether the project is bankable Period: 01.2010 03.2010

26 7469P01
 Photovoltaic Power Plants

Technical Due Diligence for Energy 21

Project, Czech Republic

An international investor is panning to invest in the solar

technology enterprise Energy 21. To check the
chances and risks of the investment, Fichtner has been
retained to conduct a technical due diligence analysis.
The company possesses an inventory of 15 to 20
photovoltaic plants with a total capacity rating or around
50-60 MW. The technical review focuses on the
services:
 Technical evaluation of PV module design and
component selection
 Verification of planned project pipeline
 Evaluation of yield models
 Project time tables and planning
Client: Confidential
 Check of contracts: EPC, component supply and
O&M
Period: 01.2010 03.2010
 Cost analysis
 Technical standards, environmental impact and
permit procedure

27 7463P01
 Photovoltaic Power Plants

Technical Advisor for 5 PV

Plants, Sicily, Italy

A project developer is involved firstly as equity

investor and secondly as financial advisor and
mandated lead arranger in a range of photovoltaic
projects in Sicily of total rating around 33 MW.
Fichtner undertakes a due diligence review of these
as independent technical advisor. Services
cover, among others, evaluation of project
structure, suitability of site, energy yield
assessment, technical concept evaluation, contract
evaluation, adequacy of technical warranties and
verification procedures, permits and licenses, project Client: Commercial bank
insurance, project management, and risk
management with project sensitivity analysis. Period: 01.2010 03.2011

28 6881P04
 Photovoltaic Power Plants

Lenders Technical Advisor Services for

Montalto Solar PV Power Plant, 24 MW, Italy

Following financial close and start of

construction, Fichtner assists construction of
the 24 MWp tranche of Montalto Solar Farm
on behalf of the project developer and
financing banks. Through monthly site visits
and reviews of the construction site logs of
the contractors, construction progress is
documented. Upon ending
construction, Fichtner additionally supervises Client: SunRay Management
the concluding functional and performance Ltd., London, United
trials during commissioning, and compiles the Kingdom
results in a general report for the construction
phase. Period: 10.2009 03.2010

29 7422P03
 Photovoltaic Power Plants

Lenders Technical Advisor Services for

Montalto Solar PV Power Plant, 9 MW, Italy

The Client is developing a 9 MW single-tracked

photovoltaic solar park located at Lazio, Italy. Fichtner
was appointed as Independent Lenders Technical
Advisor (TA) for the services of:
 Pre-Financial Close
 Technical and environmental due diligence
investigation
 Revision of technical aspects of the
construction, operations and maintenance of the
project including
Solar power production simulation
Client: Confidential
Review of the construction schedule and
identification of possible constraints
Period: 10.2009 07.2010
Review of and comments on project budget
Review and provision of sensitivity analysis

30 7422P02
 Photovoltaic Power Plants

Lenders Technical Advisor Services for

Montalto Solar PV Power Plant, 53 MW, Italy

The Client is developing a 53 MW single-tracked

photovoltaic solar park located at Lazio, Italy. Fichtner
was appointed as Independent Lenders Technical
Advisor (TA) for the services of:
 Pre-Financial Close
 Technical and environmental due diligence
investigation
 Revision of technical aspects of the
construction, operations and maintenance of the
project including
Solar power production simulation
Client: Confidential
Review of the construction schedule and
identification of possible constraints
Period: 10.2009 05.2010
Review of and comments on project budget
Review and provision of sensitivity analysis

31 7422P03
 Photovoltaic Power Plants

Lenders Technical Advisor for 4 projects in

Spain

On behalf of the financing bank, Fichtner has been

involved in the pre-financial close as well as
construction phase of four photovoltaic solar power
plants on Mallorca/Spain, with fix installed PV power
plant with a total installed capacity of 8.3 MW.
 Pre-financial close services
Technical and environmental due diligence
Review of technical opportunities and
risks
Investigation and description of planned
operating regime and costs
Client: Commercial bank
 Construction monitoring on behalf of financing
bank Period: 2008 ongoing
 Verification of operational data in first years of
commercial operation

32 7421A01
 Photovoltaic Power Plants

Technical Advisor for Pipeline of

Photovoltaic in Apulia, Italy

The Client is interested in the development and

investment of a portfolio of PV projects with two
different Project Developers at Puglia, Italy with a
maximum installed capacity of around 7 MW.
Fichtner was appointed as Owners Technical
Advisor (TA) for the services of:
 Technical and environmental due diligence
investigation
 Site assessment for suitability for the PV plants
and identification of any constraints
 Revision of technical aspects of the
construction, operations and maintenance of
the project including Client: Confidential
 Solar Production Due Diligence review
Period: 10.2009 11.2009
 Revision of input and assumptions of the
financial model
 Assist the Client in technical matters
33 7423A01
 Photovoltaic Power Plants
Consultancy Services for the implementation of a
Solar Test Facility within the area of Qatar Science
& Technology Park, Qatar

Qatar Science & Technology Park (QSTP), located in

Qatar Foundations Education City. Alongside campuses
of several leading universities it is planned to build within
the area of the QSTP a demonstration and test facility
for solar technology in Qatar. The area will have approx.
4 hectares. Green Gulf as the representative of this
project engages Fichtner as the technical advisor of this
project covering:

 Performance of shading analysis for several

different sites within QSTP and elaboration of site
assessment report
 Detail comparison of different solar technologies in
photovoltaics, low temperature solar thermal
sector Client: Green Gulf, Qatar
 Elaboration of the test facility master plan
including conceptual layout, infrastructure Period: 09.2009 05.2010
planning, definition of media and energy supply
requirements
 Development of project implementation plan

34 7421A01
 Photovoltaic Power Plants

Yield Projection for a Photovoltaic

Project, Italy

In Apulia, DEE is developing the Torre Santa

Susanna Photovoltaic Project. Based on the
conceptual design Fichtner

 checked the conceptual design data

 verified the Clients assumptions for the yield
simulations (predominantly meteorological
data)
 prepared a yield projection based on PVSYST Client: DEE Deutsche
(version 5) simulations Erneuerbare Energien
GmbH, Dsseldorf,
 including an analysis of uncertainties and the
calculation of probability cases
Germany
(P50, P75, P90) over different time periods
Period: 09.2009 10.2009

35 7420S01
 Photovoltaic Power Plants

Pre-feasibility Study for Solar Photovoltaic

Power in Florida, USA

Fichtner provided assistance in selecting the

technology for generating electricity from solar
energy. In this connection, various candidate
locations in the State of Florida, USA, are
investigated and a pre-feasibility study is
prepared, which covers among others:

 Verification of site suitability

 Technological and commercial evaluation of
different plant concepts, such as:
- poly-, mono-crystalline, thin film modules Client: Confidential
- tracked systems vs. fix installation
Period: 08.2009 11.2009
 Preparation of cash-flow model and calculation
of key financial parameters

36 7404P01
 Photovoltaic Power Plants

Due Diligence on behalf of Institutional

Investor in the Czech Republic

Fichtner has been appointed to perform technical

due diligence services on several existing PV power
plants (350 kW 1 MW, fix module installation) and
to assess future projects of a leading Czech project
developer on behalf of a potential institutional
investor. The services include:

 Assessment of plant concepts

 Site visits and assessment of plant realization
 Verification of yield projections and
performance of PVSYS simulations Client: Confidential
 Elaboration of recommendations for
improvements for future plants Period: since 03.2009
 Verification of insurance policies

37 F. Solar
 Photovoltaic Power Plants

Due Diligence for a 20 MW Plant on

behalf of Financing Bank, Spain

Fichtner has been appointed to conduct technical

due diligence investigations for a 20 MW
photovoltaic power plant (dual-axis tracking) project
in Spain.

The following services are carried out:

 Assessment of plant concept
Verification
 provided
The of permitting
services situation
included:
 Assessment
Verification of of potential
yield project sites
projections
regarding
 Site technical
visit and suitability
verification of plantfor a PV
realization
power plant
 Assessment of mover structure
 Verification of O&M concept and costs Client: Confidential
 Verification of insurance risk coverage
Period: since 02.2009
 Verification of security and surveillance
concept

38 F. Solar
 Photovoltaic Power Plants

Feasibility study for Photovoltaic Power

Plants, Italy

Fichtner was appointed to conduct initial

technical and financial due diligence
investigations as well as a prefeasibility study for
PV-projects in Southern Italy.

The provided services included:

 Assessment of potential project sites
regarding technical suitability for a PV
power plant
 Comparison of PV technologies and
sensitivity study of the electricity production
costs
Client: Confidential
 Preparation of a summary of administrative
framework and required formal steps for
receiving the construction and operation Period: 06.2008 09.2008
permits and licenses in Italy
 Preparation of a flexible financial model

39 5442P09
 Photovoltaic Power Plant

Technical Advisory Services for a

10 MW Photovoltaic Power Plant, Italy

The Customer, a private investor, is in

process to acquire the property of two sets of
PV Plants each composed of 1 MWp units.
The current developer will be appointed as
EPC contractor as well as O&M contractor to
build and operate the plants.
The Customer, in agreement with the MLA,
appointed Fichtner as Technical Advisor for all
project phases:
 Pre-financial closing Client: Confidential
 Construction
Period: since 04.2008
 Operation

40 Fichtner Italia 093

 Photovoltaic Power Plant

Due Diligence for a 5 MW Photovoltaic

Power Project, Italy

The client, an Investment Fund, is willing to

acquire PV Projects in the southern part of
Italy. The Projects are realized by the
Developer who will remain involved in the
Project as EPC Contractor.

Fichtner has been appointed to perform a

full Due Diligence of the Project to assess
the technical, contractual and authorizing
aspects prior to the completion of the Client: Confidential
transaction.
Period: since 04.2008

41 Fichtner Italia 094

 Photovoltaic Power Plant
Tracking modes

Pre-Feasibility Study for a Photovoltaic Fixed orientation

Power Plant, Italy

Biaxial tracking

Photon 7/2004

The Customer owns two pieces of land Single axis

tracking
located in an industrial area for a total
available surface of 100 hectares. - vertical - - tilted - - horizontal -

Fichtner has been appointed to perform a

pre-feasibility study for a PV project
focusing on the plant concept, the pre-
selection of the most suitable technologies
and configurations, the plant layout, the
production estimate, the authorization Client: Confidential
processes and the preliminary business
Period: since 04.2008
model.

42 Fichtner Italia 092

 Photovoltaic Power Plant

Independent Engineering Services, Italy

The client intends to act as major equity

investor for photovoltaic projects in Italy
and in other European Countries and is
in the process of defining the term
sheets for EPC and O&M framework
agreements with international suppliers.
Fichtner has been appointed with the
following services:
Client: Confidential
 Provision of technical and
contractual support in the finalization Period: since 01.2008
of a framework agreement

43 Fichtner Italia 086

 Photovoltaic Power Plant

Lenders Engineering Services for a

3 MW Photovoltaic Plant, Italy

The client, the Italian subsidiary of an

international bank, is going to finance on a
non recourse basis a PV plant currently
being developed by a private investor.
Fichtner was awarded with the following
services:
 pre-financial closing technical advisor
services
 technical and contractual due
diligence including an independent Client: Confidential
production estimate
Period: since 01.2008
 monitoring of the construction and the
first two years of operation

44 Fichtner Italia 085

 Photovoltaic Plant

Lenders Engineering Services for two

5 MWp Photovoltaic Power Plants, Italy

The Client, the Italian subsidiary of an

International Bank, is going to finance on a
non recourse basis a PV plant currently being
developed by a private investor.

Fichtner was awarded to perform the following

technical advisory services:
 pre-financial close support
 technical and contractual Due Diligence,
including an independent production Client: Confidential
forecast
 monitoring of the construction as well as Period: since 01.2008
of the first year of operation.

45 Fichtner Italia 089

 Photovoltaic Power Plant
Independent Technical Advisor
Services, Italy

Assessment of the PV modules supplier

and EPC contractor
An international bank is expected to act as
major equity investor in two photovoltaic
project portfolios (respective total output 40
and 20 MWp) currently under development
in Southern Italy. In view of the full
technical and environmental due diligence
of the 40 MWp project to be undertaken at
a later stage, Fichtner was awarded to Client: Confidential
independently assess the bankability of the
proposed PV technology, panel suppliers Period: 12.2007
and EPC contractor.

46 Fichtner Italia 083

 Photovoltaic Power Plant
Technical Advisor Services for
4 Photovoltaic Power Plants, Spain

Deutsche Bank AG is planning the

erection of four photovoltaic power
plants at four different sites in Spain.
Fichtners pre-financial close Lenders
Engineering services for the financing
bank include:
 technical and environmental due
diligence
 review of the technical concept and Client: Deutsche Bank AG,
risks Franfurt, Germany

 review of the plant project costs Period: 08.2007 11.2007

with a special focus on O&M costs

47 6881S04
 Photovoltaic Power Plant
Pre-Due Diligence Development of
20 MWp photovoltaic project, Spain

An international bank is interested in purchasing

a 20 MWp photovoltaic project in Spain. To
ensure an appropriate degree of security for this
purchase, an analysis with calculation of figures
is necessary with respect to:
 check of location in view of the plants
technical requirements
 check of technical concept for feasibility,
compliance with state of the art and
reasonableness of requirements
 check of grid infeed conditions Client: Confidential
 evaluation of project risks under the
aspects of location, technical concept and Period: 08.2007 09.2007
procurement, as well as the significance of
the recent royal decree 661/2007

48 7077P02
 Photovoltaic Power Plant

Consulting Services for an Investor

Fichtner consults an Investor with regard

to the readiness for the marketing of
concentrator photovoltaic technology.

Client: Confidential

Period: 07.2007

49 6881S02
 Photovoltaic Power Plant
Preliminary Due Diligence for a PV
Project, Italy

A major Italian group operating in the

energy sector is considering the acquisition
of shareholding interests in a photovoltaic
project being developed in a EU country. In
order to assess the feasibility of the
acquisition, the client has appointed
Fichtner to perform a preliminary analysis
of the project, including in particular the
assessment of the site layout and of its
expected production, of the different Client: Confidential
technology options, of CAPEX and OPEX
Period: 01.2007 02.2007
estimates and of the potential risks.

50 Fichtner Italia 068

 Photovoltaic Power Plant

Preliminary Due Diligence for a PV

Project, Italy

The project developer, Aliwin Plus S.L., based in

Madrid/Spain, plans to erect a solar photovoltaic
power plant in Extremadura Province, South-
Western Spain. The plant will have an electrical
generation capacity of 20 MW. The Lender's
Engineering services for the financing Deutsche
Bank AG, London, include the following for the
Pre-Financial Close phase:
 technical and environmental due diligence
Client: Aliwin Plus S.L., Spain
 solar power simulation review on behalf of
 review of technical conditions and risks, Deutsche Bank AG,
including time scheduling London, Great Britain
 check of and comment on project budget
Period: 01.2007 10.2007

51 6881A01
 Photovoltaic Solar Energy
Independent Lenders Technical Advisor
Services, Spain

Erection of two Photovoltaic Power Plants on two

sites in Albacete-Province in South Eastern
Spain, of 15 MW and 5 MW. The lenders
engineering services include the following:
Phase I
 technical and environmental due diligence
 solar power output simulation review
 review of technical conditions and risks,
including time scheduling
 check of and comments on project budget Client: Abastecimientos
Energeticos SL Madrid,
Phase II Spain
 tracking and monitoring construction on behalf of
activities Deutsche Bank AG,
 tracking plant commissioning London, United Kingdom
 reports on status of construction
Period: 05.2006 12.2008
 certification of draw downs
52
7105S01
Standby Slides
 Design Review

30 MWe Fresnel Solar Power Plant,

Puerto Errado II, Spain

The plant will have an installed capacity of 30 MWe.

A turnkey contractor has been appointed for detail
engineering, procurement, construction and
commissioning of the power plant. A design review
is conducted for all parts of the plant in order to
ensure a reliable and easily maintainable design.
Fichtner supports EBL during the design review in
the following areas:
 Solar steam generation
 Water-steam cycle including steam turbine
and generator Client: EBL, Liestal, Switzerland
 Electrical equipment Period: 05.2010 - 12.2010
 Instrumentation and control Project Data: 30 MWe Fresnel trough power
plant
 Grid connection
 Civil works.

54
7505A01
 Feasibility Study

Jaisalmer 50 MWe Solar Power Plant,

India

In close collaboration with Fichtner India Pvt

Ltd, Fichtner Germany supported the
elaboration of a Feasibility study for a
50 MWe parabolic trough power plant to be
located in Jaisalmer, India.
Fichtners support included:
 Solar resource assessment
 Preliminary solar field and HTF system
design, including layout
Client: Fichtner Consulting Engineers
 Preliminary plant performance analysis India Private Limited, India
(annual electricity production) Period: 04.2010 06.2010
Project Data: 50 MWe parabolic trough
 Costs estimated of solar field together
with the heat transfer fluid system
 Recommendations for follow-up actions
55
5376A09
 Conceptual Design, Tendering and Bid Evaluation

140 MWe ISCC Power Plant, Mathania,

India

The project is to be implemented by an EPC

Contractor who has to operate the plant for
an initial five year period. The Fichtner
services include:
 Prepare the conceptual design
 Validation of CO2 abatement
 Request for pre-qualification Client: KfW, Frankfurt, Germany
Period: 11.1997 05.1998
 Request for proposal
Project data: 220,000 m parabolic collectors
 Evaluation of EPC cum O&M bids field
140 MWe

56
4899S13
 Feasibility Study

Solar Thermal Parabolic Through Power

Plant, Mathania, India

Fichtner prepared a feasibility study for the

first large scale solar power plant to be
erected in in the 140 MWe range:

 Assessment of local constraints and

conditions
 Comparison of power plant concepts
 Optimization of solar plant and
Integrated Solar Combined Cycle (ISCC) Client: Rajasthan Energy
Development Agency, India
 Drawing up heat balances Period: 09.1995 03.1996

 Estimate of capital costs Project data: 140 MWe ISCC

220,000 m solar collector area
 Analysis of operating economics

57
4899P11
 Feasibility Study
Solar Thermal Power Plant (SOLIN-1), India

Fichtner prepared a feasibility study for the first large

scale solar power plant to be erected in India in the
30 - 80 MWe range.
This study covered
 Investigation of the Indian power scenario
 Evaluation of various potential sites
 Selection of the most suited solar energy
technology
 Optimization of plant parameters
 Performance evaluation
 Investigation of potential suppliers Client: Ministry of Energy New Dehli,
India
 Cost estimate
Period: 08.1989 11.1990
 Determination of ecological benefits
Project Data: 30 80 MWe
 Determination of organizational concepts
 Devising a strategy to introduce solar energy
on a large scale into the Indian power scenario

58
4899P03
Selected References:
Solar Thermal Power Plants
(India)
 Solar Technologies - Overview

Solar Power
Plants Photovoltaic
Solar Thermal
(PV)

Non- Linear-focusing Point-focusing (dual

Concentrating (single axis) axias)

Solar- Linear Parabolic Central Concentrating Non-

Dish
Chimney Fresnel Trough Receiver (CPV) Concentr.

Concentration ratio and Temperature increasing

Thermal Energy Storage

Rankine Cycle (ST)

Wind
Turbine Integrated Solar Combined Cycle DC-AC Inverter
Brayton Cycle
Stirling
Engine

60 Electric Power
 Solar Irradiation

Direct

on
no
rm
al Diffuse
pl a Direct
ne Direct
Global = Diffuse + Direct

on horizontal plane

Different technologies use different type of irradiation.

61
 Organisation Geschftsbereich G3
G3 Geschftsbereich

Erneuerbare Energien &

Umwelt

Roland Prger
G3 Geschftsbereich G3 Geschftsbereich G3 Geschftsbereich

Project Consultants Sekretariat Controlling

Link Janetzko, Bauer-Bidell, Kantsperger,

Seregly Becker, Kauderer, Girmendonk, Harder, Selei
Somdalen Rada, Striffler, Tipling,

G31 Projektbereich G32 Projektbereich G33 Projektbereich G34 Projektbereich G35 Projektbereich

Energiewirtschaft Umwelt- und Klimaschutz Wasserkraft konomie Photovoltaik /

Heinrich P. Turek Linder Solar Technologies
(Dr. Stuible) (Dr. Hnig) Dr. Stickel
Studien Planung und Planung und
Bohlmann Basteck
Ausfhrung Ausfhrung konomie Project Baumgartner
Fey Benz
Bauteil Elektromechanik Assessment Capdevila
Finker Eckert
Linder Becerra Cruz
Gomez Mejia Fricke Dr. Palt Siemer Hegetschweiler
Becker Dr. Butler Gudat
Jahraus Dr. Langni (Dr. Schfer) (Dr. Trifkovic) (von Bueren)
Dr. Belova John
Kohberg llbrunner
Brunner U. Clausen Abfallwirtschaft Kuhn
Plasa Preu Dr. Ayros Blling
Gantenbein Dr. Horn Lecoufle
Rehrl Stumpp Dr. Gurmessa Brggemann
Guimond Horstmann Bickel Lemaitre
Schlegel Ullrich Haug Croissant
Mancal Dr. Hnig Mettler Meyer, T.
Schller Wssner Heider Fahrenbach
Ulrichs Dr. Hildebrand Yungi Johnson sterle
Dr. Hnisch
Wlbeck Dr. Kammerer Dr. Korn Dr. Obid
Osan
Dr. Peissner Mahler Vancini
Schtz
Pfizenmaier Dr. Pintz Fuchs
Stangl
Dr. Rosier Tedla Rischawy
Shresta Fr. Vuckovic Dr. Unger
Thapa Bro Lima
Thvenaz
Borel
Vuckovic
Heimel
Fichtner MEI Oil & Gas GmbH Fichtner Carbon Management
GmbH
62
 Organisation Geschftsbereich G3
G3 Geschftsbereich

Erneuerbare Energien,
Umwelt
G3 Geschftsbereich Energiewirtschaft G3 Geschftsbereich G3 Geschftsbereich
Umwelt- und Klimaschutz
Project Consultants Nachhaltige Entwicklung Sekretariat Controlling

G31 Projektbereich G32 Projektbereich G33 Projektbereich G34 Projektbereich G35 Projektbereich

Umwelt- und Klimaschutz Photovoltaik /

Energiewirtschaft Wasserkraft konomie
Solar Technologies

Energiesysteme Genehmigungsmanagement Studien konomie Photovoltaik-Anlagen

Energiemrkte Umweltmanagement Laufwasserkraftwerke Tarife, Preismodelle PV-Zellen und PV-Modul
Frderung, Regulierung Umweltvertrglichkeitsstudien Speicherkraftwerke Restrukturierung/ Technologien (kristallin,
Integrierte Emissionshandel, CDM, JI Pumpspeicherkraftwerke Unbundling Dnnschicht)
Infrastrukturkonzept CO2-Speicherung Hochdruckanlagen Institutional Strengthening Freiflchen- / Aufdach- /
Biomasse Standorte, Trassen Rehabiltierung, Modernisier Financial Modelling Gebudeintegrierte
Geothermie Immissionsberechnungen ung Privatisierung, PPP Anlagen
Photovoltaik Raumplanung Dmme, Talsperren Abfallwirtschaft Niedertemperatur
Solarthermie Geoinformatik Kommunalwirtschaft Solarthermie (Solares
Windkraft Projektsteuerung Heizen und Khlen)
Risk Management Due Diligence
Projekt- und Anlagenspezifikation / -
Unternehmensbewertung, ausschreibung
Due Diligence Anlagenplanung
M&A Ertragsprognosen
Anlagenabnahme (inkl.
Kennlinienmessung /
Verifizierung
Fichtner Carbon Management Anlagenperformance)
Fichtner MEI Oil & Gas GmbH
GmbH Projektmanagement
Studien

63
 Photovoltaic Power - Module Types

Mono-crystalline silicon: Most efficient technology (efficiencies of

around 18% (commercial) to 28% (research)
Multi-crystalline silicon: Cheaper than mono-crystalline silicon but also
less efficient. Research cells approach 24% efficiency, and commercial
modules approach around 16% efficiency.
Thin film:
Cheaper than crystalline silicon but less efficient.
Various materials (amorphous silicon, Cadmium Telluride, Copper
Indium Diselluride (CIS))

Selection of the technology depending on: site, irradiation, temperature, costs vs.
efficiency etc.

64
 PV: Crystalline vs. Thin-film Production Capacity

5994
6500

6000
Global Solar Cell Production per year, Capacity, MWp

5500 global solar cell

5000
production

4297
thin-film technology
4500

4000

3500

2536
3000

2500

1815
2000

1256
1500

750

720
1000

560

430
390
288
202
11.45

179
152
127

42.2
37.6

100
29.4
500
18.3

18.8
15.6

15.6

16.9

15.6

13.3
89
79
69
58

60
55

50
47

30
27
20

0
1990

1991

1992

1993

1994

1995

1996

1997

1998

1999

2000

2001

2002

2003

2004

2005

2006

2007

2008
Source: ZSW Centre for Solar Data: Global Solar Cell Production: Data: Thin-Film Technologie:
Eneregy and Hydrogen Research 1983-2000: Rumer, PSE 1990-2002: DLR, 2005
Baden-Wrttemberg 2001-2002: Strategies Unlimited (PV Systems Inc.) 2003-2005: EPIA
2003-2007: Photon 3/2008 2006-2007: Navigant Consultant Inc.
65 2008: EuPD Research, 2009 2008: EuPD Research, 2009
 PV: Projection of Module Production Capacity
35000

Recession
30000
Conservative

Accelerated
25000

20000
MWp

15000

10000

5000

0
2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013
Recession 675.3 1049.8 1407.7 1984.6 3073 5455.8 5214.1 5425.4 6207.7 11611 15569.5
Conservative 675.3 1049.8 1407.7 1984.6 3073 5455.8 5990.2 6808.1 8770.3 11731.9 15732.7
Accelerated 675.3 1049.8 1407.7 1984.6 3073 5455.8 6555.2 8507.2 12202.2 18718.2 28795.6

66 Source: Paula Mints, Navigant Consulting, Inc., 2009

 Photovoltaic Power - Module Tracking

Mean annual radiation gain in Mean annual radiation gain in

Central Europe Southern Europe
Fix, optimum tilt angle 0% 0%
Horizontal N-S axis 11.5% 17.4%
30 tilt axis 22.9% 29.8%
Vertical axis, module tilt 50 23.1% 29.6%
Biaxial tracking 27.2% 34%

67
 PV Grid Parity in Germany

68
Bundesverband Solarwirtschaft
 Site impressions

69
70
71
72
73
74
75
For further information, please contact

Dr. Martin Stickel

Senior Manager
Photovoltaic / Solar Technologies

[email protected]
Tel.: +49-711-8995-684

Fichtner GmbH & Co. KG

www.fichtner.de