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Asset Management & Advisory Services for Renewable Energy Investments Our Full List of Asset Management and Advisory Services

Asset Management & Advisory Services for Renewable …...Quintas Energy offers a process-driven approach to cover any loan obligation fulfilment. Project financing is one of the key

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Page 1: Asset Management & Advisory Services for Renewable …...Quintas Energy offers a process-driven approach to cover any loan obligation fulfilment. Project financing is one of the key

Asset Management & Advisory Services for Renewable Energy Investments

Our Full List of Asset Management and Advisory Services

Page 2: Asset Management & Advisory Services for Renewable …...Quintas Energy offers a process-driven approach to cover any loan obligation fulfilment. Project financing is one of the key

ASSET MANAGEMENTSERVICES

Page 3: Asset Management & Advisory Services for Renewable …...Quintas Energy offers a process-driven approach to cover any loan obligation fulfilment. Project financing is one of the key

3Quintas Energy Group | Asset Management Services | Revenues

This is one of the advantages of the multi-skilled and process-driven approaches to independent Asset Management offered by Quintas Energy. All of this is possible through Ariadne by offering professional and interactive reports which can be presented at management or board level.

Main Features � Ariadne Financial

Dashboard

� Technical checks of daily production

� Financial reviews of different pricing schemes

� PPA subject-matter expertise

� Internal Control Environment (SOX & ISAE 3402)

� Debtors aging analysis

� Direct liaison with offtakers & third-parties

� Liquidated Damages follow up & negotiation support

Asset Management Services

Service Description

Quintas Energy’s vast experience and multi-skilled approach to Asset Management has allowed it to become an expert, not only in the management of renewable energy plants, but also in the effective management of their associated revenue streams.

Quintas Energy Revenues service is a complete cycle that ranges from the contractual review of each energy sales contract to the review of the energy generated on-site and then the final invoicing of the electricity.

Service Outputs

Quintas Energy offers direct access to its web portal; Ariadne. Here clients can find a complete set of monthly reports with deviations analysis of the monthly income, subject-matter expert comments about the main issues, outages and other relevant situations that might affect the project’s income.

REVENUES

Ariadne Financial Dashboard

Page 4: Asset Management & Advisory Services for Renewable …...Quintas Energy offers a process-driven approach to cover any loan obligation fulfilment. Project financing is one of the key

4Quintas Energy Group | Asset Management Services | Expenditure & Cash Management

Independent and multi-skilled management of expenses is essential in any renewable energy investment project. Quintas Energy’s team of accountants understand what they are recording. This, combined with the assistance of Engineers and Lawyers, results in a rich combination of backgrounds ensuring that expenses are accurate, recorded in a timely fashion and according to the project’s technical requirements.

Asset Management Services

Service Description

The effective management of payments is essential to investors. Quintas Energy always considers the individual cash-flow needs of each project, based on the client’s necessities.

As independent managers of renewable projects, Quintas Energy’s experience in managing OPEX and CAPEX streams has allowed it to gain in-depth knowledge about renewable assets’ cost structures. Quintas recognises the importance of a diligent management of payments to bring an efficient level of control over all cash streams. This results in a complete walkthrough that includes not only the recording of expenses but also their review and an approval workflow before these are paid.

Service Outputs

The Ariadne Financial Report shows at a glance any relevant deviation

or improvement opportunities regarding our clients’ cash flow streams. Additionally, the Financial Monthly Reports presents an updated overview of the project’s financial situation.

EXPENDITURE & CASH MANAGEMENT

Main Features � Ariadne Financial

Dashboard

� Preparation and approval procedures

� Technical evaluation of extraordinary expenses

� Management of banking operations

� Creditor aging analysis

� Direct liaison with goods and service providers

� Financial model follow up and checks

Ariadne Financial Dashboard

Page 5: Asset Management & Advisory Services for Renewable …...Quintas Energy offers a process-driven approach to cover any loan obligation fulfilment. Project financing is one of the key

5Quintas Energy Group | Asset Management Services | Accounting & Taxes

Dynamic integration and the multi-skilled backgrounds of Quintas Energy’s teams allows the deployment of a full range of accounting services. This is essential to ensure the establishment of an optimal financial environment, up to date with the latest regulations and adaptable to the GAAP required in any country.

Asset Management Services

Service Description

From the very beginning, Quintas Energy understood that Asset Management as a service is incomplete without a full accounting package to support it. Quintas’ team has 15+ years of aggregated experience in finance and taxes in the renewable energy sector and has a unique understanding of the client’s financial reporting and preparation requirements.

Quintas Energy’s services are designed to improve the overall efficiency when managing audits, corporate taxes and loan compliance reporting, including the management of covenants and the calculation of debt coverage ratios. The horizontal integration of technical, legal and financial processes grants Quintas Energy’s in-house teams’ direct access to information sources where they can retrieve production data, energy sales prices and other operating contracts.

Service Outputs

This guarantees precise and unbiased financial statement management and reporting, immune from material errors. Through Ariadne web portal, clients have immediate access to the last updated data about the accountancy of their projects.

ACCOUNTING & TAXES

Main Features � Ariadne Financial

Dashboard

� Full-bookkeeping service

� Variance analysis against financial model

� Financial model updates

� External audit support

� Direct liaison with main stakeholders

� Internal Control Environment (SOX & ISAE 3402 standards)

� Liaison with tax advisors, auditors and financial institutions

Ariadne Financial Dashboard

Page 6: Asset Management & Advisory Services for Renewable …...Quintas Energy offers a process-driven approach to cover any loan obligation fulfilment. Project financing is one of the key

6Quintas Energy Group | Asset Management Services | Loan Compliance

With QEConnect, Quintas Energy tracks facility agreement covenants through the software’s clear and comprehensive information records. Consequently, Quintas is able to assign loan covenant tasks across its various teams and manage notifications by way of automation. Quintas Energy can assist in the management of all commitments arising from financial obligations with banking entities.

Project A Scenario: Base caseCovenantTests

Period start 01-Apr-14 01-Oct-14 01-Apr-15 01-Oct-15 01-Apr-16 01-Oct-16 01-Apr-17 01-Oct-17 01-Apr-18 01-Oct-18 01-Apr-19 01-Oct-19 01-Apr-20 01-Oct-20 01-Apr-21 01-Oct-21 01-Apr-22 01-Oct-22 01-Apr-23 01-Oct-23 01-Apr-24Period end 30-Sep-14 31-Mar-15 30-Sep-15 31-Mar-16 30-Sep-16 31-Mar-17 30-Sep-17 31-Mar-18 30-Sep-18 31-Mar-19 30-Sep-19 31-Mar-20 30-Sep-20 31-Mar-21 30-Sep-21 31-Mar-22 30-Sep-22 31-Mar-23 30-Sep-23 31-Mar-24 30-Sep-24Year 2015 2015 2016 2016 2017 2017 2018 2018 2019 2019 2020 2020 2021 2021 2022 2022 2023 2023 2024 2024 2025Semi-annual period in year 1 2 1 2 1 2 1 2 1 2 1 2 1 2 1 2 1 2 1 2 1Days in period 183 182 183 183 183 182 183 182 183 182 183 183 183 182 183 182 183 182 183 183 183

Check Input Unit

1 Flags

Long-term debt flagsDebt issuance date 25-Jul-16 date - - - - 1.0 - - - - - - - - - - - - - - - -Last repayment date 31-Mar-34 date - - - - - - - - - - - - - - - - - - - - -Debt service period flag - - - - 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0Days in debt service period days - - - - 68 182 183 182 183 182 183 183 183 182 183 182 183 182 183 183 183

Projec�on period start 01-Apr-16 date - - - - 1.0 - - - - - - - - - - - - - - - -Opera�on period end 05-May-41 date - - - - - - - - - - - - - - - - - - - - -Projec�on periods flag - - - - 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0

Post debt service period flags flag - - - - - - - - - - - - - - - - - - - - -

MRA funding periods flag - - - - 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0

PLCR calcualtion flagsPLCR calcula�on period end date 30-Sep-35 date - - - - - - - - - - - - - - - - - - - - -PLCR calcula�on period flag - - - - 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0

ROC recycle variable period flagsEnd of ROC recycle variable period 31-Mar-27 date - - - - - - - - - - - - - - - - - - - - -ROC recycle variable period flag - - - - 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0

ROC recycle fixed period flagsStart of ROC recycle fixed period 01-Apr-27 date - - - - - - - - - - - - - - - - - - - - -End of ROC recycle fixed period 05-May-41 date - - - - - - - - - - - - - - - - - - - - -ROC recycle fixed period flag - - - - - - - - - - - - - - - - - - - - -

2 Lockup and Default Tests

CFADS

Cash flow available for debt service (CFADS)Opera�ng cash flows £'000 - - - - 4,182 11,671 15,261 14,655 14,407 14,922 15,956 15,644 15,608 15,947 16,296 16,096 16,355 16,053 16,465 16,172 16,197MRA funding £'000 - - - - - - - - (144) (198) (322) (139) (269) (189) (351) (527) (698) (818) (1,132) (941) (1,103)MRA release £'000 - - - - - - - - - - 23 198 201 139 147 189 230 527 577 818 1,011Deferred EPC payments £'000 - - - - 1,320 - - - - - - - - - - - - - - - -

Asset Management Services

Service Description

A loan agreement requires a full understanding and timely management of all its covenants. Quintas Energy offers a process-driven approach to cover any loan obligation fulfilment.

Project financing is one of the key features of most renewable energy portfolios. Quintas Energy’s services in this area include a controlled approach to covenants, the calculation of ratios and other obligations derived from facility agreements. Quintas Energy focuses on complying with lenders conditions, which ultimately results in decreasing the cost of capital of the related investment projects by reducing its inherent operational risks.

LOAN COMPLIANCE

Main Features � Financial Model updates

� Periodical loan follow up

� Management of deadlines and alerts

� SWAP interest payments and reviews

� Debt Service Coverage Ratio calculation

� Cash Sweeps reports

� Certificates drafting for client’s review

� Liaison with applicable financial entities

QEConnect Loan Compliance Dashboard

Page 7: Asset Management & Advisory Services for Renewable …...Quintas Energy offers a process-driven approach to cover any loan obligation fulfilment. Project financing is one of the key

7Quintas Energy Group | Asset Management Services | Contracts & Document Management

The feedback loop does not stop when the site visit information reaches the technical managers; it continues to the Contract Management team to assess legal actions and a possible insurance claim, or even to involve the Loan Compliance team. Disputes and incidents are often settled through decisive action at management level and QE’s Legal team aims to always avoid escalating issues to external legal advisors unless all other measures have been exhausted.

Asset Management Services

Service Description

Minimising contractual risks and enforcing contractual rights together translate into protecting revenues. Minimising risks starts with control of project documentation. With a thorough onboarding of this, QE ensures that the contracts of a solar portfolio can be properly managed along with their deadlines and obligations. The Contract Management team ensures that these obligations are met and gives feedback to the Engineering and Accounting teams, as well as to its clients, to help with contract interpretation. Diligent contract management plays a major role in dealing with incidents.

QE’s experience of Contract Management and its practical knowledge of renewable energy projects give our clients support and insights that mitigate risks promotes their strategic objectives and extracts the maximum value from their contractual rights.

Service Outputs

The in-house Contracts Dashboard included in Ariadne web portal

aggregates all contractual information precisely prepared and reviewed by Quintas Energy’s lawyers. This offers a great overview on contract main relevant dates and details about third parties the projects need to fully operate.

CONTRACTS & DOCUMENT MANAGEMENT

Main Features � Ariadne Contracts

Dashboard

� Broad range of contracts expertise (operations, solar energy sales, EPC, O&M & many others)

� QEConnect Document Management tool

� Energy Sales contract management

� Insurance contact management

� Third party compliance checks

� Deadlines & obligations control

� Segregation of Duties during contractual reviews & updates

Ariadne Contracts Dashboard

Page 8: Asset Management & Advisory Services for Renewable …...Quintas Energy offers a process-driven approach to cover any loan obligation fulfilment. Project financing is one of the key

8Quintas Energy Group | Asset Management Services | Insurance

Quintas Energy is also experienced in running tenders and improving claims procedures in all the markets where it is present. The in-house Insurance team is made up of experts from various backgrounds, namely legal, technical and financial. Each member of the team has extensive knowledge and experience in dealing with insurance claims, whether for technical, regulatory or even non-proprietary reasons. Quintas acts as the main client liaison with insurers, offering advice when submitting a final claim or when dealing with policy renewals and other required actions.

Asset Management Services

Service Description

As an independent asset manager, Quintas Energy is focused on ensuring that each project has the best insurance coverage on the market to guarantee the asset’s viability. The Insurance team also strives to reach the optimum return from any potential claim against third parties (such as EPCs, O&Ms, vandalism, thefts, etc.).

The insurance team sits in the legal department, where it has specialised in the analysis and management of insurance for renewable energy assets. This team adds value for clients by benchmarking terms against broad market references, ensuring that coverage is adapted to the real needs of the assets.

Service Outputs

The in-house Contracts Dashboard included in Ariadne web portal aggregates all contractual information precisely prepared and reviewed by Quintas Energy’s lawyers. This offers a great overview on Insurance policies and

their coverage, their main relevant dates and details about third parties the projects need to fully operate.

INSURANCE

Main Features � Ariadne Contracts

Dashboard

� Insurance claims management

� Material damage estimations & checks

� Business interruption estimations & checks

� Third-party responsibility analysis

� Direct liaison with the client & insurers

Ariadne Contracts Dashboard

Page 9: Asset Management & Advisory Services for Renewable …...Quintas Energy offers a process-driven approach to cover any loan obligation fulfilment. Project financing is one of the key

9Quintas Energy Group | Asset Management Services | Permits, Licenses & Authorisations

Quintas Energy offers complete management solutions for the maintenance of permits, licences and authorisations, as well as all related obligations of clients’ assets. Quintas Energy has managed more than 400 projects across 3 continents (Australasia, Europe and North America).

Asset Management Services

Service Description

Renewable energy projects, regardless of the country in which they are located, require a high level of compliance when it comes to permits, licenses and authorisations. Quintas Energy’s expertise in this area allows it to manage and advise on the main obligations and rights resulting from regulatory requirements.

Quintas Energy has managed more than 400 projects across 3 continents (Australasia, Europe and North America). This has endowed its teams with extensive experience in managing permits, licenses and authorizations of all types (including grant schemes, municipal authorisations, planning permits, etc.). This is only possible through extensive contacts with different interlocutors such as municipal authorities and governmental institutions.

This has endowed its teams with extensive experience in managing permits, licenses and authorizations of all types (including grant schemes,

municipal authorisations, planning permits, etc.). This is only possible through extensive contacts with different interlocutors such as municipal authorities and governmental institutions.

Service Outputs

The in-house Contracts Dashboard included in Ariadne web portal aggregates all contractual information precisely prepared and reviewed by Quintas Energy’s lawyers. This offers a great overview on contract main relevant dates and details about third parties the projects need to fully operate.

PERMITS, LICENSES & AUTHORISATIONS

Main Features � Permits, Licenses

and Authorisations management in QEConnect

� Ariadne – Contracts Dashboard report

� Key supports during the development and construction phases

� Management of renewals, compliance and deadlines

� Direct subject-matter expert liaison with Authorities

� International proven-track record in dealing with PLAs

Ariadne Contracts Dashboard

Page 10: Asset Management & Advisory Services for Renewable …...Quintas Energy offers a process-driven approach to cover any loan obligation fulfilment. Project financing is one of the key

10Quintas Energy Group | Asset Management Services | Company Secretarial

Entrusting Quintas Energy with the demanding function of company secretary, leaves clients free to focus their resources on growing their projects and businesses. Quintas Energy keeps the company from defaulting on its secretarial obligations, so clients can view the managed data at any time via the QEConnect online portal.

Asset Management Services

COMPANY SECRETARIAL

Service Description

Quintas Energy can assist in managing all the secretarial functions of clients’ projects. This includes the recording of changes of Director, annual filings and compliance with regulatory obligations.

Quintas Energy’s Company Secretarial service offers full assistance in the management of corporate records of clients’ projects. The focus is on increasing compliance with any type of regulatory obligations of the projects. Quintas Energy proactively manages any change or regulatory requirement of the clients’ assets in order to reduce their regulatory risk. This is essential to ensure any investment project’s viability.

The broad range of company secretarial services provided by Quintas Energy includes statutory maintenance, amendments to

articles, rights issues and directors service offices.

Main Features � Statutory books

maintenance

� Drafting Services

� Registered Offices Service

� Rights issues

� Directors service offices

� Preparation and filing of all statutory forms

� Minutes and meetings gathering

� 400+ SPVs under Commercial Management

QEConnect Portfolios Dashboard

Page 11: Asset Management & Advisory Services for Renewable …...Quintas Energy offers a process-driven approach to cover any loan obligation fulfilment. Project financing is one of the key

11Quintas Energy Group | Asset Management Services | Monitoring, Measurement & Verification

The uninterrupted monitoring of each project, in addition to the quantification, measurement and verification of its performance, allows Quintas Energy to retrieve essential information from the raw data gathered from different sources.

Asset Management Services

Service Description

Through methodical monitoring, measurement and verification of all data and information flow, Quintas Energy creates the basis for generating essential insights and precise KPI calculations for better management of the assets.

The essential starting point of Asset Management is to have a detailed knowledge of the assets themselves. This includes an understanding of their technical characteristics, design, arrangement and construction. The performance of operators and constructors can then be continually analysed through back-office operations.

This service combines the three ‘intelligences’ that move the Energy and Asset Management sectors forward; Human Intelligence, that helps Quintas Energy reach reliable conclusions (in the form of subject matter expertise); Artificial Intelligence, to allow for a more effective examination of data; and Business Intelligence, used for gaining insights into how to reach clients’ strategic objectives.

Service Outputs

Monitoring, measurement and verification allow Quintas Energy to collect data from its customers’ assets in a secured context so that high-quality information and insights are available to all stakeholders. Quintas Energy’s BI solution offers interactive reports to perform periodical checks on the plant performance, based on subject-matter expert technical works.

MONITORING, MEASUREMENT & VERIFICATION

Main Features � Ariadne Technical

Dashboard

� Daily monitoring of plant performance

� Incidents linkage at component level

� Monthly review of KPIs

� Variance analysis against financial model

Our Capabilities

Number of daily registries of data cleansed

Daily calculations of production and availability data

KPIs measured and verified to QE clients in 2019

16M

31M

6M

Ariadne Technical Dashboard

Page 12: Asset Management & Advisory Services for Renewable …...Quintas Energy offers a process-driven approach to cover any loan obligation fulfilment. Project financing is one of the key

12Quintas Energy Group | Asset Management Services | Asset Management

Quintas Energy is the only independent asset manager in the world accredited with the ISO 55001 Asset Management standard. This could only be achieved by delivering unprecedented sets of Asset Management and Specialised services to highly demanding clients.

Asset Management Services

Service Description

There are four kinds of assets that must be managed in a clean energy portfolio – Energy, Financial, Physical and Data. Quintas Energy’s multidisciplinary approach through its Engineering, Accounting, Legal and IT departments makes it possible to control its core services, which together are the basis for comprehensive asset management. Asset Management is the effective coordination of processes in line with strategic objectives. Quintas Energy understands the assets as if they were its own.

Quintas Energy’s Asset Management services are sourced from a qualified, experienced team operating in a data-rich environment across multiple markets.

First-hand experience of best practices, incident resolution and industry standards are a valuable resource when it comes to decision-making. Armed with

data from the backoffice structure to assess every situation, Asset Management is a daily battle to reconcile practicalities with strategic objectives.

Service Outputs

Through periodical client meetings and the daily management of each asset, Quintas Energy can offer an Asset Management bespoke service to ensure that all actions taken are comprehensive and adapted to the specific needs of each investment project.

ASSET MANAGEMENT

Main Features � Only independent asset

manager in the world with ISO 55001 Standard certification

� QEConnect own ERP system accessible to clients

� QE BI Reporting Suite with access to relevant reports

� Assets’ performance live overview

� Complete and detailed incidents audit trail

� Periodic strategic calls to share outcomes & recommendations

� Quarterly internal Risk Committees to assess main issues or relevant subjects

Ariadne Asset Management Report

Page 13: Asset Management & Advisory Services for Renewable …...Quintas Energy offers a process-driven approach to cover any loan obligation fulfilment. Project financing is one of the key

13Quintas Energy Group | Asset Management Services | Digital Technical Advisor

All the information is stored in the cloud, carrying out calculations and visualisations with the most advanced business Analysis tools. All of these advanced tools allow Quintas engineers to focus on large data sets from the asset in Outlier Analyses, Rankings, Tendencies, Trendlines etc.

Asset Management Services

Service Description

Managing a portfolio of assets is a data-intensive process, which has increased in difficulty over the past years due to technological progress. For these situations, Quintas Energy can provide data tools and specialist engineers to analyse historic datasets of any asset – at different production levels – to identify potential root causes of underperformance, which can trigger an effective resolution plan.

Other Asset Managers do not reach the required level of granularity to solve problems and issues that may remain unidentified upon first superficial inspection. Quintas Energy has always recognised the importance of deep performance analysis in the optimisation of a renewable asset’s operational performance. Quintas use data extraction, transformation and loading ETL tools that allows taking all of the data, every day, from different SCADAs and other technologies.

All this is done by applying advanced technological in-house solutions that go far beyond SCADAs. Quintas can deliver performance analysis at string level, RISO analyses and many other specialised performance reports.

Service Outputs

Ariadne web portal shows on a professional attire all the reports generated under the Digital Technical Advisor Dashboard. This tool is accessible 24/7 by the clients to be aware of the deep analysis works deployed on-site.

DIGITAL TECHNICAL ADVISOR

Main Features � Ariadne Digital Technical

Advisor Dashboard

� Deep performance analysis works

� Trends analysis

� Preventive maintenance insights

� RISO Performance analysis

� String level analysis

� Component level assessment

� Valuable tool when combined with Digital Asset Register

Ariadne Digital Technical Advisor Dashboard

Page 14: Asset Management & Advisory Services for Renewable …...Quintas Energy offers a process-driven approach to cover any loan obligation fulfilment. Project financing is one of the key

14Quintas Energy Group | Asset Management Services | Site Visits

The results of these visits are very valuable for acceptance processes, O&M handovers and punch list signoffs.

Asset Management Services

SITE VISITS

Service Description

Modern Asset Management highly depends on a direct assessment of all sites. This ensures that all strategic and operational decisions and outcomes by the asset manager have been duly applied on-site by third parties (O&M and others).

Quintas Energy’s dedicated operational teams carry out over 1,000 visits annually and their experience is a valuable resource for our Asset Management clients, who need these visits to control their sites. Through periodical on-site inspections, Quintas Energy is able to compare the asset’s digital data and information with its actual physical status.

The quality of Quintas Energy’s inspections comes from the feedback loop between the field team and the backoffice structure, which empowers Quintas’ Operation Managers to locate and analyse issues efficiently.

All this is supported by Quintas Energy’s certification under the ISO 55001 standard, which proves the company’s commitment to best industry practises in the independent management of assets.

Service Outputs

All this information is stored on the QE Site Visit App and the Quintas Energy client portal Ariadne to facilitate access to all the relevant data obtained from the site visits. Additionally, the Site Visit reports offer valuable insights about issues found on-site and the applicable remediation plans recommended by Quintas Energy.

Main Features � QE Site Visit app allows

more efficient visits to plants

� Full Site Visit report including recommendations and remediation plans

� QEConnect incidents notification for clients

� ISO 55001 fully certified under UKAS (BSI

Our Capabilities

Independent Site Visits completed in 2019

MW inspected using drones and QE Site Visit App

800+

250MW

Ariadne Site Visit App

Page 15: Asset Management & Advisory Services for Renewable …...Quintas Energy offers a process-driven approach to cover any loan obligation fulfilment. Project financing is one of the key

ADVISORYSERVICES

Page 16: Asset Management & Advisory Services for Renewable …...Quintas Energy offers a process-driven approach to cover any loan obligation fulfilment. Project financing is one of the key

16Quintas Energy Group | Advisory Services | Dynamic Asset Register

Through a cloud-based solution, Quintas Energy counts on a hierarchical device structure with all the devices’ information digitalised and standardized to manage the asset more effectively. This tool compiles all the information in one place and enables Quintas Energy personnel to maintain a complete audit trail and store high-value information at every step performed during the management of the assets.

Advisory Services

Service Description

Managing a portfolio of assets is a data-intensive process, which has increased in difficulty over the past years due to technological progress.

Nowadays, there is an increasing variation in renewable assets’ data structures. Also, growth in the size of the assets directly leads to an increase in the number of technological devices installed on them. This makes the reliability of data a key part of the asset’s operations. Quintas Energy creates a digital twin of each asset it manages. This is particularly useful, as it allows the asset manager to gain an unprecedented level of detail about every component on the site.

Service Outputs

All asset register outputs are contained into an online and secured QE client’s portal: Ariadne.

This tool offers to clients a rich and relevant content derived from the single line hierarchical diagram of all components of each of their sites.

DYNAMIC ASSET REGISTER

Main Features � Ariadne Digital Asset

Register Dashboard

� Direct liaison with institutions for regulated components replacements

� Digital Single Line Diagram

� Replacement devices tracker

Ariadne Digital Asset Register Dashboard

Our Capabilities

Number of managed inverters

Number of managed solar panels

Number of managed batteries

10,000

8M

2,000

Page 17: Asset Management & Advisory Services for Renewable …...Quintas Energy offers a process-driven approach to cover any loan obligation fulfilment. Project financing is one of the key

17Quintas Energy Group | Advisory Services | Red Flag Report

The purpose of Quintas Energy’s Red Flag Report is to highlight key issues or risks identified during the review of documentation and information, as well as any potential short-term or long-term threats to operations. This review can be applied at different levels, from a general review of project documentation, to the level of individual contract reviews.

Advisory Services

Service Description

If you are a solar investment player, wondering why any of your projects could have difficulty securing third party financing, have no fear; our Advisory team has put together a list of the common project pitfalls that may put investment in solar projects at risk, as well as strategies to overcome them. By identifying flaws early, our clients are empowered to reduce soft costs and focus on opportunities which are the most attractive to investors.

Quintas Energy’s Red Flag reports are designed to be an economic but effective aid for busy M&A teams that need assistance on a broad range of legal, accounting and technical matters.

QE Red Flag Reports help to assess quickly, with an experienced manager’s eye for detail, operational contracts, insurance terms and coverage, equipment warranties, leases and easements, permits, recommended inputs

to Sales Purchase Agreements and a review of information on regulatory portals against project documentation.

RED FLAG REPORT

Main Features � QE Red Flag Report

� Risk-based assessment

� Independent pre-analysis of Projects before transactions

� Technical expertise

Our Capabilities

MW assessed before M&A transactions

Projects deployed in Spain, Italy & UK

100+

3

Page 18: Asset Management & Advisory Services for Renewable …...Quintas Energy offers a process-driven approach to cover any loan obligation fulfilment. Project financing is one of the key

18Quintas Energy Group | Advisory Services | Energy Yield Assessment

Based on Quintas Energy’s simulations, using the best industry standard software, the Energy Yield Assessment reports are a valuable output to implement changes to plants’ designs, which in the end will potentially result in better asset performance.

Advisory Services

Service Description

QE Energy Yield Assessment reports include simulations that can be performed using different probabilistic scenarios during the development of a plant. This aims to ensure that organizations bankrolling solar projects can accurately determine the level of risk of the investments. Based on these independent assessments produced by Quintas, assets’ designs can be optimised by employing different technologies and components.

Our PV Energy estimates are based on Meteonor solar and meteorological time series data. Uncertainty of variables such as solar irradiance and air temperature are the biggest contributors to the uncertainty of energy yield estimates. Thus, through a mixed set of resources as Quintas 10+ years of experience

in the solar Asset Management industry and the use of Meteonor, we are empowered to reduce uncertainty when evaluating PV energy estimations. This results in more accurate financial models and a base case to compare our client’s assets performance versus actual data analysed through our Monitoring, Measurement and Verification service.

ENERGY YIELD ASSESSMENT

Main Features � QE Energy Yield

Assessments Report

� Insights to ease the bankroll of renewable energy projects

� Competitive costing when combined with additional QE’s services

� Plant design review & consulting insights (if required)

QE Energy Yield Assessment Report

Page 19: Asset Management & Advisory Services for Renewable …...Quintas Energy offers a process-driven approach to cover any loan obligation fulfilment. Project financing is one of the key

19Quintas Energy Group | Advisory Services | Regulatory Support | Corporate Tax & Tax Filings

Quintas Energy has managed 400+ projects across 3 continents. This has endowed its teams with extensive experience in managing permits, licenses and authorizations of all types (including grant schemes, municipal authorisations, planning permits, etc.). This is only possible through extensive contacts with different interlocutors such as municipal authorities and governmental institutions.

Quintas Energy has valuable experience not only in preparing and submitting tax filings across diverse geographies and governmental agencies, but also in understanding the numbers behind these fiscal concepts. This is what makes Quintas excel in this area.

Service Description

Quintas Energy’s vast fiscal experience allows its accountants to prepare and present tax filings from an unbiased perspective. By reducing inefficiencies usually linked to this kind of activities, the clients can concentrate on higher-value subjects.

Tax is a broad and complex field which must deal with controversy, compliance and numerous tax administration stakeholders at global and local levels. Moreover, the solar energy industry includes extremely complex concepts, which can affect the preparation and presentation of taxes if not managed correctly.

CORPORATE TAX & TAX FILINGS

Main Features � International coverage

� UK, Spain, Australia, Italy & Ireland coverage

� Independent calculations

� Proven-track record in delivering outputs fast

� Competitive pricing

� Synergies with QE’s Accountancy service

Advisory Services

Service Description

Quintas Energy’s years of experience in its core markets gives clients the additional regulatory support they need to remain compliant with the many requirements of national regulations.

Quintas has vast experience in dealing with permits and accreditations with the corresponding authorities. Quintas Energy offers a full scope review of accreditation documentation and related activities, helping clients to anticipate potential regulatory pitfalls. This and ensures that the assets are fully prepared for ad hoc regulatory inspections.

Where clients are already faced with an audit, Quintas also provide support to put together adequate responses and lead conversations with the authorities.

REGULATORY SUPPORT

Main Features � Accreditation reviews

� Independent risk assessment

� Document management solution

� Direct liaison with 3rd parties

� Proven track-record across Spain, the UK, Italy and Australia

Our Capabilities

Our Capabilities

Engagements that led to successful Regulatory Inspections

Number of Corporation Tax & other relevant filings presented annually

80+

400+

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20Quintas Energy Group | Advisory Services | Independent Incident Management

Depending on the agreed scope with the clients, this service can provide a deep level of analysis of component level incidents (inverters, strings, switchgears, etc.). Quintas Energy has a proven-track record in managing incidents of an aggregated and global portfolio of 2.5GW+. Its vast in-house incident database allows Quintas to manage the resolution of incidents with a proven methodological approach, backed by the ISO 55001 Asset Management Standard accreditation.

Advisory Services

Service Description

Quintas Energy’s main goal is to achieve clients’ strategic objectives. This can only be done through processes that control any exceptional situation or incidents that occur on-site. Therefore, it is key to maintain communication and liaise periodically with a broad range of third parties (EPCs, O&Ms, Insurers, landlords, etc.).

Quintas Energy provides independent management of critical incidents that require a specific follow-up to obtain optimal solutions. This leads to a potential reduction in repair times and the minimisation of production losses or any other derived risks. Independent third-party incident management combines liaison with all parties involved, incident information gathering, engaging with experts, witnessing and testing, assessing potential systemic recurrence and detailed reporting to the client.

INDEPENDENT INCIDENT MANAGEMENT

Main Features � Incidents management

� Incident resolution management

� Detailed audit trail

� Direct liaison with 3rd parties

� QE Insurance team support

� Potential claims assessment

� Claims economical impact evaluation

Ariadne Incidents Management Dashboard

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21Quintas Energy Group | Advisory Services | Statutory Accounts & Financial Statements

Quintas Energy provides an experienced team to help investors in dealing with the preparation of financial statements and statutory accounts. This is done by placing experienced accountants at the service of investors to prepare and present the accounts to their stakeholders in a timely fashion.

Advisory Services

Service Description

The preparation of financial statements and statutory accounts can become a highly unproductive task, even more so when they are prepared by companies that do not understand the businesses or the renewable energy sector.

Quintas Energy understands the importance of achieving an accurate, complete and unbiased presentation of statutory accounts and financial statements. Quintas Energy understands the importance of presenting accurate and free from material errors in financial statements. This is why Quintas strongly relies on its Internal Control Environment, which follows ISAE 3402 and Sarbanes Oxley Act standards.

STATUTORY ACCOUNTS & FINANCIAL STATEMENTS

Main Features � Internal Control

environment

� Internal Control Environment under SOX & ISAE 3402 Standards

� Competitive pricing

� Unbiased approach to financial statements preparation

� Subject-matter in-house expert financiers

� International GAAPs proven track-record

Ariadne Financial Dashboard

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22Quintas Energy Group | Advisory Services | Financial Due Diligence

In most cases, financial due diligence is deemed as a fundamental requirement, but for Quintas Energy, this assessment goes to a higher level of detail by, not only considering the big numbers, but also the technical weaknesses and potential opportunities of each project.

Advisory Services

Service Description

Financial Due Diligence consists of a review that is normally requested by any potential investor that requires a deeper analysis of any asset’s financial state before its acquisition or sale.

When developing a portfolio of renewable assets, it is key from a buyer’s or seller’s perspective to acknowledge and ensure the projects’ financial health. This is required not only to avoid overpayment, but also to assess whether the project’s governance and risk management objectives are being met so that an informed decision can be made.

Quintas Financial Due Diligences leverage on our technical, legal and financial expertise. We ensure all critical technical and financial project expectations are

independently assessed and any potential issues, and associated mitigation measures, are identified. Through our Solar Due Diligences, we support our clients during the investment or acquisition process, through an independent evaluation that all interested parties can rely upon.

FINANCIAL DUE DILIGENCE SUPPORT

Main Features � Multi-skilled team

� Financial and technical backgrounds

� Independent approach

� Proactive support

� Financial Due Diligence detailed reports

� Competitive pricing

� Proven track-record in renewable energy projects

Ariadne Portfolio Overview

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23Quintas Energy Group | Advisory Services | Financial Modelling Support

Through its extensive asset management expertise, Quintas Energy can provide comprehensive support on technical and operational assumptions when building financial models. To do that, Quintas offers a complete technical support to ensure tangible investment benefits resulting from accurate financial models values and estimations.

Project A Scenario: Base caseCovenantTests

Period start 01-Apr-14 01-Oct-14 01-Apr-15 01-Oct-15 01-Apr-16 01-Oct-16 01-Apr-17 01-Oct-17 01-Apr-18 01-Oct-18 01-Apr-19 01-Oct-19 01-Apr-20 01-Oct-20 01-Apr-21 01-Oct-21 01-Apr-22 01-Oct-22 01-Apr-23 01-Oct-23 01-Apr-24Period end 30-Sep-14 31-Mar-15 30-Sep-15 31-Mar-16 30-Sep-16 31-Mar-17 30-Sep-17 31-Mar-18 30-Sep-18 31-Mar-19 30-Sep-19 31-Mar-20 30-Sep-20 31-Mar-21 30-Sep-21 31-Mar-22 30-Sep-22 31-Mar-23 30-Sep-23 31-Mar-24 30-Sep-24Year 2015 2015 2016 2016 2017 2017 2018 2018 2019 2019 2020 2020 2021 2021 2022 2022 2023 2023 2024 2024 2025Semi-annual period in year 1 2 1 2 1 2 1 2 1 2 1 2 1 2 1 2 1 2 1 2 1Days in period 183 182 183 183 183 182 183 182 183 182 183 183 183 182 183 182 183 182 183 183 183

Check Input Unit

1 Flags

Long-term debt flagsDebt issuance date 25-Jul-16 date - - - - 1.0 - - - - - - - - - - - - - - - -Last repayment date 31-Mar-34 date - - - - - - - - - - - - - - - - - - - - -Debt service period flag - - - - 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0Days in debt service period days - - - - 68 182 183 182 183 182 183 183 183 182 183 182 183 182 183 183 183

Projec�on period start 01-Apr-16 date - - - - 1.0 - - - - - - - - - - - - - - - -Opera�on period end 05-May-41 date - - - - - - - - - - - - - - - - - - - - -Projec�on periods flag - - - - 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0

Post debt service period flags flag - - - - - - - - - - - - - - - - - - - - -

MRA funding periods flag - - - - 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0

PLCR calcualtion flagsPLCR calcula�on period end date 30-Sep-35 date - - - - - - - - - - - - - - - - - - - - -PLCR calcula�on period flag - - - - 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0

ROC recycle variable period flagsEnd of ROC recycle variable period 31-Mar-27 date - - - - - - - - - - - - - - - - - - - - -ROC recycle variable period flag - - - - 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0

ROC recycle fixed period flagsStart of ROC recycle fixed period 01-Apr-27 date - - - - - - - - - - - - - - - - - - - - -End of ROC recycle fixed period 05-May-41 date - - - - - - - - - - - - - - - - - - - - -ROC recycle fixed period flag - - - - - - - - - - - - - - - - - - - - -

2 Lockup and Default Tests

CFADS

Cash flow available for debt service (CFADS)Opera�ng cash flows £'000 - - - - 4,182 11,671 15,261 14,655 14,407 14,922 15,956 15,644 15,608 15,947 16,296 16,096 16,355 16,053 16,465 16,172 16,197MRA funding £'000 - - - - - - - - (144) (198) (322) (139) (269) (189) (351) (527) (698) (818) (1,132) (941) (1,103)MRA release £'000 - - - - - - - - - - 23 198 201 139 147 189 230 527 577 818 1,011Deferred EPC payments £'000 - - - - 1,320 - - - - - - - - - - - - - - - -

Advisory Services

Service Description

Spreadsheet-based modelling can provide investors with flexible and reliable tools to help make informed decisions.

When it comes to creating financial models, often third-party vendors who do not fully understand the energy sector use tools that suffer from a lack of quality, robustness, security and reliability. This could have a severe impact on the quality of decision-making if the tools and financial models do not meet the minimum level of expertise to provide valuable data about the assets or the portfolios that they relate to.

FINANCIAL MODELLING SUPPORT

Main Features � Financial and Technically

talented people

� Specialised support during modelisation

� €9B+ valuation of assets under management

� 400+ Financial Models assessed

� Multi-market approach (FiT, PPA, Merchant)

� Renowned Partnerships

� 10+ years of proven track-record in the Renewable Energy sector

QE Financial Model

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24Quintas Energy Group | Advisory Services | Contract Optimisation

Contract optimisation can only be achieved through processes that control the enormous flow of contractual clauses and data. Quintas Energy’s unique combination of multidisciplinary processes and a complementary contract optimisation service can give asset owners greater control over every aspect of their investment to extract the maximum value of their contractual rights.

Advisory Services

Service Description

Quintas Energy’s experience and process-driven culture can help to optimise contracts for the full operational effectiveness of the assets under management.

Quintas Energy effectively manages all rights and obligations arising from the different types of contracts linked to any renewable energy project. This, combined with a best-in-class document management tool, allows Quintas to offer adapted recommendations to clients in order to minimise project risks and reinforce their contractual rights. This helps to protect the projects’ revenue streams and minimise its operating expenses.

Service Outputs

The in-house Contracts Dashboard included in Ariadne web portal aggregates all contractual information precisely prepared and reviewed by Quintas Energy’s lawyers. This offers a great

overview on contract main relevant dates and details about third parties the projects need to fully operate.

CONTRACT OPTIMISATION

Main Features � Ariadne Contracts

Dashboard

� Broad contract types coverage

� Operational, EPC, O&M, Energy Sales contracts

� Multi-skilled & cross-team cooperation

� Optimisation results in potential source of income

Ariadne Contracts Dashboard

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25Quintas Energy Group | Advisory Services | Tenders & Handovers

Quintas Energy’s experience is supported by the effective management of 500+ EPC contracts related to an aggregated installed capacity of 3GW+. All these projects are and have been spread across 3 continents, which reinforces Quintas’ international experience in the management of tenders and handover within the renewable energy sector.

Advisory Services

TENDERS & HANDOVERS

Main Features � EPC and O&M supervision

experience

� Cost-effective solution for contract optimisation

� Full contract breaches analysis

� Daily management and 3rd parties direct liaison

Service Description

Quintas Energy will run Tenders & Handovers for you and assist in realising the maximum value possible from them.

Our teams understand as none of its competitors that sometimes the more relevant contracts from a renewable project do not deliver their complete potential. This is based on Quintas Energy’s experience in managing 3GW+ of solar energy project worldwide, all with different third party agreements in place with different scopes (construction, maintenance, security, etc.).

The Tenders & Handover service provides its clients with the opportunity of receiving unbiased support from a team of experts to optimise the decision making when closing new agreements.

Through an effective control and register of all contracts breaches, Quintas Energy also assists its

clients in the preparation of termination notices, as well as in the search of more efficient alternatives in the market.

Our Capabilities

Energy Sales contracts managed

EPC contracts managed

Land leases contracts managed

400+

350+

500+

Ariadne Contract Management Dashboard

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26Quintas Energy Group | Advisory Services | 24/7 Monitoring Services

Quintas Energy’s Control Room is remotely connected to the assets by SCADA, which provides remote monitoring and reporting. The 24/7 services are a significant reinforcement for Business Intelligence reports, which focus on providing Quintas’ stakeholders with the best visualisations of the assets’ data.

Advisory Services

Service Description

Real-time monitoring of a renewable asset is key to promptly detect faults and to minimize time to incident resolution and production losses.

24/7 live Monitoring is essential to maximise both availability and performance, to ensure compliance with operational requirements and to improve communications with the different stakeholders.

The 24/7 services are a proactive approach to asset management which improves the control of the performance of the assets, O&M providers and Energy Traders.

Quintas Energy’s Control Centre also has a division in charge of providing 24/7 trading services in the Australian Electricity Market (the NEM).

Service Outputs

Quintas Energy’s Control Centre monitor and operate renewable assets in Europe and Australia. The Control Centre Team have years

of experience solving issues that can be remotely fixed through the SCADA and escalating those that require further assistance from the O&M providers and manufacturers.

The Trading services are coordinated with the Operations Team to assure that bidding is performed efficiently and in line with the market requirements.

24/7 MONITORING SERVICES

Main FeaturesMonitoring and Operations

� Live monitoring of plant and key component performance through the SCADA

� Incident classification, registration and notification to operators and third parties

� Management of outages and remote operations

� Monitoring of the CCTV System alarms

Energy Trading (Australia) � Management of bid

submissions to AEMO

� Management of operational compliance as per AEMO requirements

QE 24/7 Data Dashboard

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27Quintas Energy Group | Advisory Services | Expert Aerial Inspection

By combining Expert Aerial Inspection with the rest of Quintas Energy’s Asset Management services, drones can help to reduce time in the field and labour costs associated with the construction, commissioning and operational phases of the asset.

Advisory Services

Service Description

Drones can replace traditional, labour-intensive tasks & provide value across the complete lifespan of a solar asset, from its initial planning and design to its ongoing maintenance.

Aerial based inspection is the basis for precise verification of power performance and warranty claims. Using drones to replace the field walks, visual inspections and handheld thermal inspections saves large amounts of time and enables the client’s field teams to spend time on other higher-value tasks. Expert aerial inspections are an effective tool that complements the rest of Quintas Energy’s Specialist and Asset Management services, which are all oriented to assess the quality and operational health of solar assets.

This service is also an efficient tool to check project progress during the construction period. It ensures that all milestones are being completed according to the contract schedule, removing

the necessity for the client or the auditor to physically attend the site.

Service Outputs

Quintas Energy offers direct access to Ariadne web portal to its clients, where they can consult all the results from the drones inspections deployed at each of their sites. This allows to precisely detect the errors found during the aerial inspections and strengthen other services, such as the Site Visits or the complete Asset Management of the site.

EXPERT AERIAL INSPECTION

Main Features � Geolocation at component

level � Thermographic inspections

and analysis � Complete integration with

full set of QE analytical tools � 3D modelling of sites � Cost-effective progress

reports for construction phase assets

� Site layout adaptation to real-life map

� Full-resolution imagery

Our Capabilities

Try it at: info.quintasenergy.com/drones-demo

800+

250MW

Independent Site Visits completed in 2019

MW inspected using drones and QE Site Visit App

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28Quintas Energy Group | Advisory Services | Expert Aerial Inspection

WEB REPORTING PLATFORM

AriadneAriadne is Quintas Energy’s proprietary interactive reporting platform and provides a dynamic way of sharing information with the relevant stakeholders. It offers the best image resolution, visualisation of defects and filters that allow the user to zoom in on specific issues.

Our engineering team locates all thermal anomalies on the thermographic map, and classifies them according to the most likely issue types.

These might include:

1. Disconnected strings that can impact the site’s overall performance.

2. Hot Spots which can lower the aggregated performance of a complete string of panels.

3. Multiple Hot Cells, derived from manufacture defects and mismatched currents on a single panel.

4. Detection of Bypassed Diodes, which decrease the voltage of a complete string.

5. Disconnected Panels which trigger panel replacement works.

6. Shading which can lower output power and accelerate material degradation of panels.

7. Soiling issues detection to empower the O&M to quickly address dust, dirt and contamination issues.

8. Potential Induced Degradation (PID) which preliminary detect current leaks at the perimeter of the panels and help to optimise future Electroluminescence (EL) tests.

Advisory Services

EXPERT AERIAL INSPECTION

Hot Spot

Bypassed Diode

PID

Soiling issues detection

Multiple Hot Cells

Panel Disconnected

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29Quintas Energy Group | Advisory Services | Construction Phase

Total Final Acceptance Certificates under management

EPC contracts managed daily

Average Commissioning Certificates managed annually

Operation Contracts managed annually

1.2GW+

250+

350+

1,000+

Service Description

The beginning of real Asset Management starts by understanding the assets from their development and construction. The construction of an asset is essential to gain a broader understanding of each particular solar site, including its technical characteristics, design and configuration. Construction require a consistent follow up on constructors’ works to ensure that the project meets the contractual quality standards. Otherwise, Quintas Energy can initiate the required actions to guarantee the compliance of contractual warranties that might apply in favour of the asset’s owner/s.

This continued support during can be extended after construction and COD, during the acceptance processes, to verify that projects have reached specific development, construction and operational

milestones in optimum condition. This is supported by on-site supervision of construction and reporting, EPC management & performance oversight, review of security and insurance arrangements, attendance to key components assembly and final tests in factory, supervision of compliance with environmental and planning conditions and support during tender’s negotiations with operators (O&M).

Quintas Energy is the one-step solution that can retrieve and deal with the management of the assets, even if they are not yet operational. The Construction phase Asset Management ensure that the asset is achieving its main milestones, which ensures gains and optimisation until the asset reached its commissioning and connection to the grid.

DEVELOPMENT

PRE-PLANNING

PERMITS & LICENSES

COMMISSIONING

TESTS

CONSTRUCTION

OPERATIONS

RTB COD18 - 24 months

(Ready to Build) (Commercial Operations Date)

10 - 12 months 1 - 35 yearsPhase 2Phase 1 Phase 3

After solving the design of the project and all permits obtention, the construction and installation of the plant is initiated.

VIABILITY STUDIES

To support asset’s owners during the construction and acceptance phases, Quintas Energy deploy on-site expertise in the form of Technical Advisory services. These include data intensive analyses to detect underperformance in generating assets and provide actionable insights for improvement. Quintas Energy’s Technical experts perform string, shading and yield analyses which go beyond what SCADAs or traditional technical advisors can achieve for two important reasons. First, Quintas Energy’s commitment to deep

asset knowledge means that we understand what is happening to generating assets at component level, including comparisons to expected performance in different conditions as per the OEM’s technical specifications; second, our capacity to automate this work means that we can generate valuable information and insights as often as needed not just for any given component or site but for entire portfolios at low cost level specific issues.

Advisory Services

CONSTRUCTION PHASE

Our Capabilities

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30Quintas Energy Group | Advisory Services | EPC Supervision

The better the initial construction, the better overall performance the asset will have during its complete lifespan. This is particularly important for investment projects that rely on high-performing renewable assets.

01.03.19 01.06.19 01.09.19

22.02.19

01.03.19 01.06.19

22.02.19

01.03.19

22.02.19

18.04.19 27.08.19

6%8%

34%42%

10%

SITE NAME

CONSTRUCTION PHASE - MILESTONES FOLLOW UPMilestone 1 Milestone 2 Milestone 3 Milestone 4

Site 1

Site 1 - Cashflow Analysis Site 1 - Expenses Analysis

Variable 1

Variable 2

� � � �

Site 2 � �

Site 3 � � �

Site 4 �

Variable 1

Variable 2

Variable 3

Variable 4

Variable 1

Variable 2

Variable 3

Variable 4

Variable 5

Variable 1

Variable 2

Variable 3

Variable 4

Legend 1 Legend 2 Legend 3

Advisory Services

Service Description

Supervision of EPC performance during the construction phase avoids the appearance of hidden defects later and ensures a smooth transition to the operation phase.

Investors usually look for new, better-rated technical advisors, whose work is often compromised by their lack of independence from EPCs or O&M companies. Quintas Energy responds to this situation by offering a detailed and unbiased supervision of third parties involved in the construction and commissioning of the assets. Quintas Energy’s continued supervision of the EPC ensures that all works are performed adequately. Furthermore, it ensures that the correct decisions are made during the construction and the commissioning phases.

Independent EPC supervision ensures that the constructor is carrying out its milestones according to contractual obligations.

EPC SUPERVISION

Main Features � Direct oversight of EPC

works

� Construction overruns control

� EPC milestones approval & checks

� Guarantees management

� Gives clarity to non-technical users

� Cost-effective Specialist Service that ensures upcoming economical benefits in the future for the asset

Construction Phase Dashboard

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31Quintas Energy Group | Advisory Services | Acceptance Services

Every EPC project goes through a set of phases during a 2 year-warranty period. During these periods, it is key to supervise and follow up constructors’ works to ensure that the project meets the contractual quality standards. Otherwise, Quintas Energy can initiate the required actions to guarantee the compliance of contractual warranties that might apply.

Advisory Services

Service Description

The objective of acceptance processes is to verify that projects have reached specific development, construction and operational milestones in optimum condition.

Quintas Energy assists owners and EPCs in the planning, execution and closure of the acceptance processes, whether they are preliminary, intermediate or final. This is supported by specific site visits for acceptance processes which include string, RISO and thermographic analyses, as well as a live punch list follow up and closure to ensure that all findings are dealt with by EPCs until they are compliant with the acceptance standard.

Service Outputs

The results of the Acceptance Processes can be easily conducted through the access to Ariadne web portal. There, all the details derived from the site visits and the Live Punch List can be consulted directly by the client, to reassures that all

the characteristics from the project are being met by the constructors.

ACCEPTANCE SERVICES

Main Features � Ariadne Acceptance

Processes Dashboard

� Contractual Performance Ratio (PR) calculations

� Negotiations support towards EPCs

� Functional tests

� Punch List follow up & signoff

� Penalties & bonuses oversight

� Legal support for warranties application

� Provisional Acceptance, Intermediate Acceptance and Final Acceptance closing

� Guarantee bonds management

Ariadne Acceptance Services Dashboard

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32Quintas Energy Group | Advisory Services | Expertise on site

All this is supported by Quintas Energy’s certification under the ISO 55001 standard, which proves the company’s commitment to best industry practices in the independent management of assets.

Advisory Services

Service Description

Site visits are an important part of any Asset Management process. Quintas Energy’s dedicated teams carry out over 1,000 visits annually and their experience is a valuable resource not only for Asset Management clients but also for asset owners who need additional or ad hoc visits to control their sites effectively.

The quality of Quintas Energy’s inspections comes from the feedback loop between the field team and the backoffice structure, which empowers Quintas’ Operation Managers to locate and analyse issues efficiently. The breadth of their experience and references makes it possible for them to assess technical issues, site conditions and contractor performance, more precisely in all areas including O&M best practice, land management, security systems, on-site spare parts, the monitoring system and the

contractors’ approach to Health & Safety.

Furthermore, Quintas Energy has developed an in-house digital application (QE Site Visit App), which combines all the site visit information a precise and accurate detection and location of the main incidents.

Quintas Energy also has an Aerial Inspection team that can be engaged in isolation or as part of a site inspection to offer additional insights about the asset’s current status.

EXPERTISE ON SITE

Main Features � QE Site Visit App

� Special equipment to deploy diverse and valuable technical tests

� Civil visits

� Supervision of remedial works

� Punch List follow up with the client

� Site visits bespoke reports

Our Capabilities

800+

250MW

Independent Site Visits completed in 2019

MW inspected using drones and QE Site Visit App

Ariadne Site Visit App

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Plaza Nueva 13, 3-5, 41001+34 954 324 365

SEVILLE LONDONSuite C, Third Floor3 Harbour Exchange SquareCanary Wharf, London E14 9GE+44 (0) 207 673 9833

SAN FRANCISCO BRISBANE CORK50 California Street, Suite 1500, +1 415 799 7339

Level 1, 1024 Ann Street, Fortitude Valley, QLD, 4006 Australia+61 7 3112 2725

Heron HouseBlackpool ParkBlackpool, CorkIreland

ROMEVia Sallustiana, 15, 00187+39 06 89670487TRENTO OFFICE:Viale Verona, 190/4. 38123

Asset Management & Advisory Services for Renewable Energy Investments

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