Allianz, Fraunhofer, VDE partner on integrated services for solar power

Source:VDE Institute

Allianz Climate Solutions, Fraunhofer ISE and VDE Institute partner up to offer integrated financial and technical services for solar photovoltaic (PV) power plants

Solar photovoltaic (PV) projects worldwide must demonstrate a high level of quality and performance that can be relied on by investors, commercial banks and insurance companies. To meet this demand, Allianz Climate Solutions, the Fraunhofer Institute for Solar Energy Systems (ISE), and the VDE Testing and Certification Institute (VDE Institute) have entered into a partnership to offer integrated financial and technical services for PV power plants to support PV projects with the achievement of "investability", "bankability" and "insurability".

The integrated service incorporates a comprehensive project risk assessment and complete certification for the entire PV system. The risk assessment covers project risks during the construction and operational phase. For instance, technical risks of components, financial risks related to the financing structure, key project contracts and risks resulting from the regulatory environment are analyzed. The PV system certification process includes over 300 technical pass/fail criteria that cover the entire project development cycle from design to execution and start of operation. The certification process takes a holistic view of all stakeholder requirements, which also allows the quality assurance process of the project to be streamlined from a cost and effort perspective.

Through this combination, the integrated service for PV projects ensures that risks are well documented and that the safety, performance and quality of the PV system are validated. "This integrated service helps lower the risk and provides a clear decision framework for banks and investors when determining the quality of a PV project. Through our partnership with the VDE Institute and Fraunhofer ISE, we join forces and build upon our vast experience in the PV markets inGermany, Europe and globally," said Karsten Loeffler, Managing Director, Allianz Climate Solutions.

"For the first time, project developers now have access to a clearly structured and well-defined integrated service that comprehensively covers the myriad of financial and technical aspects of a project that must be taken into consideration. This reassures investors and financiers that the PV project can provide the expected returns," added Prof.Eicke Weber, Director of the Fraunhofer Institute for Solar Energy Systems.

"We look forward to supporting the project development industry in established and emerging PV markets with this joint service. Through this partnership, we hope to continuously improve the quality and user experience of solar systems globally," concludedMichael Jungnitsch, Managing Director of the VDE Institute.

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now

Whitepapers

Maximizing Operational Excellence

In a recent survey conducted by PennEnergy Research, 70% of surveyed energy industry professional...

Leveraging the Power of Information in the Energy Industry

Information Governance is about more than compliance. It’s about using your information to drive ...

Reduce Engineering Project Complexity

Engineering document management presents unique and complex challenges. A solution based in Enter...

Revolutionizing Asset Management in the Electric Power Industry

With the arrival of the Industrial Internet of Things, data is growing and becoming more accessib...

Latest PennEnergy Jobs

PennEnergy Oil & Gas Jobs