In the dynamic world of ground-mounted solar plants, Spain has emerged as a beacon of economic viability and a hotspot for solar PV transactions. A blend of favourable economies of scale, ideal terrain conditions, abundant solar resources, and a recent history of regulatory stability has fostered an ecosystem that attracts diverse stakeholders, from national utilities to global giants and even players from the oil & gas sector, independent power producers (IPPs), solar developers, and investment funds.
As a result, Spain has witnessed a surge in gigawatt-scale portfolios deployed by developers and IPPs, many of which have been the subject of significant mergers and acquisitions (M&A) activity, solidifying Spain's position as one of Europe's key players in renewable energy transactions (EU Market Outlook for Solar Power 2021-2025).
Today, we interview Juan Martínez, the Technical Director at Bluetree, to explore the intricate world of solar PV transactions and the role of technical advisory services in the form of technical due diligence. With over a decade of experience, Juan shares insights into Bluetree's commitment to excellence in solar investments, their unique approach, and the blend of on-site and desktop assessments that offer a comprehensive evaluation. He also discusses how Bluetree's value proposition aligns with decision-makers' investment objectives and what sets them apart in the field of solar investments.
Interviewer: Thank you for joining us today, Juan. We'd like to explore Bluetree's expertise and approach to solar PV projects, with a specific focus on the risks and opportunities that investors may extract from this supporting figure, particularly during complex transactions.
Juan Martínez: Thank you for having me. I'm pleased to discuss our services and the commitment we bring to every solar PV project, from its inception to operational stages. I’ll do my best to put also some emphasis on the trending-topic of solar PV market transactions.
Interviewer: Fantastic. Let's begin with Bluetree's role as a trusted partner in solar investments. How would you describe the company’s core expertise and commitment to excellence?
Juan Martínez: At Bluetree, we're dedicated to being a dependable partner for anyone involved in solar PV investments, whether at the planning stage, during a transaction, or while managing extensive portfolios of hundreds of megawatts. Within my Technical Advisory team, our core expertise lies in providing comprehensive and independent technical support to investors who need the added value of a technical unbiased expert. To navigate the potential hidden risks in solar PV transactions and unlock their full value, you need a deep technical understanding. We take pride in being the experts you can rely on to deliver a secure, precise, and impartial assessment at every phase of your green investment projects.
Interviewer: It's clear that Bluetree approaches things uniquely. Can you elaborate on how your team's approach sets you apart in the world of technical advisory?
Juan Martínez: Certainly. Our approach is rooted in offering a human touch within the technical domain. We're not your typical faceless technical advisory firm. Instead, we're a team of experts chosen for their dedication to understanding your specific objectives. Working with us means you're not hiring just a consultant, but rather joining forces with a group wholly committed to your success. We provide insights that extend beyond mere number-crunching, guiding you towards your investment goals.
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Interviewer: Let's now delve into the technical due diligence side. Your "perfect blend" approach combines on-site and desktop assessments regarding these services. Can you explain how these assessments work in harmony to offer a comprehensive evaluation?
Juan Martínez: Absolutely. Our technical due diligence services provide a holistic technical perspective. We recognise the importance of melding on-site assessments with in-depth desktop analyses. Our assessments encompass a broad spectrum of factors, from energy production estimates to equipment evaluations, civil and electrical designs, contracting arrangements, financial models, budgets, and the complexities of environmental permitting. It's worth noting that we don't stop at desk jobs. We arrange on-site visits, conduct thorough equipment manufacturer audits, and conduct in-depth equipment inspections. This dual approach ensures a comprehensive assessment that leaves no stone unturned.
Interviewer: It's evident that Bluetree's approach is thorough. How would you correlate your value proposal to decision-makers’ investment objectives?
Juan Martínez: Our holistic approach revolves around considering every intricate technical detail and blending these with our partner’s investment strategy. The end result is a tailored technical due diligence report that empowers our clients and all involved parties to make informed decisions before, during, or after a transaction takes place. Our aim is to ensure that nothing is overlooked and that every decision is well-informed, so that no unpleasant surprises appear in the long run.
Interviewer: This is undoubtedly crucial for those involved in investing in solar PV projects. Lastly, with over 15 years of experience, we have a robust track record, both from an Asset Management and Technical Advisory perspective. What sets Bluetree truly apart in the field of solar investments?
Juan Martínez: Over the past 15 years, we've had the privilege of supporting IPPs, investors, fund managers, developers, and other pivotal figures in the renewable energy industry. What sets us apart is our commitment to excellence. We're a team continually pushing the boundaries of our expertise. We're equipped to evaluate solar PV projects, whether they're compact suburban installations or expansive desert farms in locations like the Atacama. I would also say that our international presence resonates with this idea. From our headquarters in Madrid, down to our main offices in Milan, Mexico City, and Santiago, we are able to address any locations.
Interviewer: Bluetree brings a wealth of experience to the table. Thank you, Juan Martínez, for sharing your insights today.
Juan Martínez: Thank you for having me. We're here to provide the technical expertise and guidance that solar PV project stakeholders require. If anyone has questions or wishes to discuss their unique project, we're ready to assist.
