Refinancing

An energy case for refinancing, built on what the wind farm has actually produced.

When an operating wind farm is refinanced, lenders size the new debt on an updated P90. This service combines an updated wind resource assessment with an operational assessment of SCADA or DGR data, so the P50 and P90 reflect the asset's real record rather than its original pre-construction estimate.

Updated WRAlonger reference period
Operational EYASCADA or DGR based
Remaining-life P90matched to the new tenor

Why the original EYA is not enough

The pre-construction energy yield assessment was based on a short measurement campaign, a flow model, and assumed losses. Several years later, the project has its own production record, the long-term wind reference is longer, and the remaining loan tenor is shorter. A refinancing lender's technical advisor will expect the energy case to use all of that.

Updated wind resource

The long-term wind climate is re-derived with the extra years of reanalysis and any onsite mast data, and checked against the original long-term correction.

Operational reconciliation

Actual production is compared with the original P50 and the difference is split into wind, availability, grid curtailment, wake, and turbine performance.

Forward-looking losses

Availability, curtailment, and performance assumptions for the remaining years are set from the operating record, with ageing and degradation treated explicitly.

What you receive

  • Updated long-term wind climate and comparison with the original WRA.
  • Loss bridge from the original P50 to actual production, by cause.
  • Operational P50, P75, and P90 on 1-year and multi-year bases, including over the remaining loan tenor.
  • Updated uncertainty budget showing which terms the operating data has reduced.
  • Turbine-by-turbine performance review where 10-minute SCADA is available.
  • Spreadsheet outputs for the financial model and support for lender technical advisor questions.

Frequently asked questions

Do we need a new met mast for a refinancing?

Usually not. The wind farm's production record, together with reanalysis data and any existing mast data, normally provides a stronger basis than a new short measurement campaign.

Why is the remaining-life P90 different from the original P90?

The averaging period is shorter, the uncertainty budget has changed because of the operating data, and the loss assumptions are now based on evidence. Each of these moves the P90, sometimes in opposite directions.

How many years of operation are needed?

One full year allows a basic reconciliation. Two or more years give a much more reliable operational P50, because a single year can be unusually windy or calm.

Our wind farm has underperformed. Can it still be refinanced?

Often, yes. Lenders are more comfortable with a shortfall that is explained and corrected than with one that is not. The assessment separates causes that will persist from those that have already been fixed.

Can you review an operational EYA prepared by another consultant?

Yes. An independent review of the existing assessment is often the quickest way for a lender or investor to get comfortable with the refinancing case.

Planning a refinancing?

Share the original EYA, the years of operation, and the data you have, and a scoping call will set out the assessment and a fixed fee.