Modern Energy Management (MEM), a specialist in sourcing, developing, building and operating renewable energy projects in the emerging markets has announced it has been appointed to provide development support at two project sites, totaling 290 MW, in the Philippines and Thailand respectively. MEM will act as a technical and commercial advisor on a 150-MW hybrid wind and solar project in the Philippines and deliver early stage development advisory on a new 140-MW Thai wind farm.
Harnessing its understanding of the emerging wind and solar markets in SE Asia, MEM will assist both developers in mitigating project risks, thereby enhancing internal rates of return and the project credit ratings for investors.
“By acting as an extension of the project sponsor’s team on both schemes, we’re confident of delivering bankable, investment grade projects,” said Kyle Katoski, Head of Project Origination, Modern Energy Management.
In the Philippines, acting as an Owner’s Representative, and utilizing its project management expertise, MEM will advise on optimizing site layout for the hybrid wind and solar scheme to maximize the project’s energy yield and financial performance, while minimizing its environmental impact on the surrounding area. In addition, MEM will also monitor and manage the solar station and wind measurements and drive forward late-stage development commercial contracting with wind and solar suppliers and construction contractors.
Katoski added: “Having proven experience in minimizing project delays, we can offer clean energy investors in the emerging markets a clear opportunity for reducing costs and technical risks and improving cash flow certainty.”
In Thailand, a key element of MEM’s work has been deploying its experience in sourcing bankable projects, assisting the developer in building its first utility-scale wind farm in the country. During the project’s development, MEM’s technical guidance will support the delivery of a meteorological (met) mast campaign to carry out accurate, early-stage resource assessment at the project site. In addition, MEM will coordinate with the sponsor to optimize site layout in order to maximize power generation, as well as support the purchase of additional land in line with Energy Regulatory Commission requirements.
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