INTERNATIONAL EXPERIENCE

Environmental and social due diligence for the financing of a photovoltaic plant of 100 MW

Technical advice on the acquisition of X-Elio

Yield assessment of a wind farm of 27 operating PV plants (105.1 MW) and 3 operating wind farms (37.2 MW) located in France

Report to determine the minimum wholesale market price from which specific remuneration would be received.

Technical assistance to contract O&M services for the CSP Puertollano, Spain (50 MW).

Technical due diligence for the financing of a wind farm of 29.3 MW located in Spain.

Independent engineer of banks for the financing of 2 wind power plants, one with a capacity of 117 MW known as Delaro and another with a capacity of 171 MW known as Los Molinos. Both located in the state of Tamaulipas, Mexico.

Independent engineer of the banks for the financing of a solar photovoltaic project named Puerto Libertad developed by Acciona and BioFields in the State of Sonora, Mexico

Tax advisory and consulting services in relation to the analysis and proposal of measures for the promotion of the energy rehabilitation of buildings.

Economic advice to evaluate OPEX, CAPEX and the levelized cost of electricity (LCOE) of various wind and photovoltaic projects in Mexico

• Assistance with monitoring, verification of emissions and surrender of emissions allowances according to legislative requirements.
• Analysis of the ability to use carbon credits (EUAs, CERs, other fungible credits in emissions trading systems linked to the European system) to fulfil the obligations to surrender allowances.
• Free allocation of European emissions allowances for the period 2013-2020: independent calculation of the expected allocation according to the established legislation. Preparation of an Excel template and explanatory memo on the assumptions used.
• Modification of greenhouse gas emissions permits in line with modifications to the plants.
• Recurring advice on the management of obligations under international legislation and domestic implementing provisions.
• Advice on matters relating to the Union Registry.
• Advice on emissions allowance trading based on standard models (ISDA, IETA; CMOF, EFET, others).
• Advice on trading on stock exchanges or organized platforms (Exchange) and on periodic auctions of emission allowances.

Analysis of the electric energy retail market in Spain.

Technical advice on the financing of 7 SDGM photovoltaic plants in Chile

• Initial design of the Sector Mitigation Mechanism (MSM), taking into account the technologies to be incentivized and emissions reduction potential.
• Search for potential cogeneration projects participating in the MSM as mitigation activities and selection of the projects that best fit the established eligibility criteria.
• Economic and technical analysis of the viability of the MSM with the selected mitigation activities, estimating the potential reduction and incentives assigned.
• Final design of the MSM with the incentive mechanism and preparation of an implementation plan.

Aim: Performance of an Environmental Risk Analysis, in accordance with the provisions of the Environmental Liability Law and its partial implementing regulations, of the project to reopen an open-cast iron mine, to be submitted to the competent public authority.

The main tasks included:

• Evaluation of the project to reopen the mine through review of the documentation and a visit to the mine.
• Preliminary identification of the hazards and initiating events associated with the reopening of the mine.
• Determination of the Basic Environmental Status of the area.
• HAZID and HAZOP meetings to confirm the hazards and initiating events (IE) identified and select the most representative ones.
• Working meetings to determine the likelihood of the risk scenarios occurring.
• Determination of accident scenarios and conditioning factors.
• Estimation of the amount of the required financial guarantee.

Aim: performance of a detailed technical audit of 65 facilities of different types (landfills, mechanical/biological treatment plants, composting facilities, CDW treatment plants, anaerobic biodigestion, biogas recovery and electricity generation plants, etc.) for the management of solid urban waste throughout Portugal.

The main tasks included:

• Technical due diligence review of the facilities and operating data provided.
• Identification of deficiencies, breaches and malpractice in the management of the facilities.
• Establishment of areas for improvement and recommendations.

• Review of the main carbon footprints of organizations similar to that of the client in order to select the best practices available.
• Analysis of the European environmental footprint process and possible related considerations such as the organization footprint.
• Review of data by analyzing all relevant parameters as well as a representative sample of the primary and secondary sources.Preparation of an Excel workbook for obtainment of the carbon footprint in accordance with the WBCSD GHG Protocol standards, both for calculation structuring and associated technical guides. Application of the guidelines and spirit of ISO 14064 for the potential certification of the organization under the two standards.
• Obtainment of an emissions factor with sufficient traceability that can be updated on an annual basis and verified by a third party.

Aim: to design and implement a General Regulatory Compliance System at AENA, review the functioning of the Corporate Compliance Model, provide the entire organization with the necessary training and raise awareness, all with the participation of a multidisciplinary team with extensive experience in this area made up of professionals from the Garrigues Group. The main tasks included:

• Review of the general regulatory framework, corporate policies and code of conduct of Aena’s corporate governance system and preparation of the necessary documents.
• Analysis of the regulatory compliance risks and existing controls associated with them.
• Additional necessary controls, supervision and reporting.
• Training and communication of the System.

Aim: Integral management, with all parties involved (public authorities, third parties, operator, subcontractors, etc.), of a procedure concerning groundwater affected by historical metal contamination.

The main tasks included:

• Detailed technical study of the problem.
• Representation of and spokesperson for the company vis-á-vis the different parties affected/involved.
• Organization of meetings with the public authorities to take care of the administrative matters involved in managing the project and create a trusted communication framework between the parties.
• Identification and selection of the company tasked with designing and executing the environmental recovery and landscape restoration project.
• Supervision of all tasks and work to be performed.

Aim: review of the environmental and social risks of energy projects in accordance with the IFC Performance Standards and the Equator Principles.

The main tasks included:

• Review of the environmental and social aspects of the projects prior to the financial close of the transaction.
• Preparation of a table identifying and providing a quantitative assessment of risks.
• Supervision of compliance with the Environmental and Social Monitoring Plans during the construction and subsequent operation of the plants.

Aim: preparation of expert reports on technical and economic disputes with the public contracting bodies in relation to public service concessions for integrated water cycle and waste management.

The main tasks included:

• Gathering and review of documentation.
• Meetings with legal counsel to ascertain the litigation strategy.
• Preparation of expert report.
• Defense of the report in court.

General support for monitoring, updating and improving compliance models.
Update of risk maps and adaptation of procedures and policies.
Coordination of work teams by specialties or activities.
Compliance Reports.
Extension and adaptation to subsidiary and investee companies.

CORE (Control del Riesgo Empresarial -corporate risk monitoring)- is a software tool for risk and compliance management that simplifies and reduces the work needed, both during the design of the management system and in the later stages of its life cycle. CORE helps:

1. Integrate the management of all types of risks and monitoring procedures (legal, environmental, operational, regarding the supply chain, etc.) in a single platform.
2. Identify the persons responsible for each type of risk, monitoring, country, location, business unit, etc.
3. Provide guidance in the risk identification and analysis process and standardize assessment methods through the use of specific questionnaires tailored to each type of risk.
4. Monitor the actions established in the management system, assigning a status, person responsible and timescale for each of them, with the possibility of creating delegated actions and personalized alerts.
5. Simplify document access and management for the documents generated in the system, by associating the policies and procedures, and the templates or records arising in connection with them, with the risks, monitoring procedures and actions.
6. Simplify communications through automatic notification of the assignment of responsibilities or proximity of deadlines, as well as management of manual email distribution lists.
7. Prepare reports from predesigned internal reporting templates and export information to Excel spreadsheets in a structured way, for the preparation of specific reports (statistics, indicators, etc.).

Aim: design and implementation of an effective compliance management system in our clients, all of the above with a multidisciplinary team of expert criminal lawyers from Garrigues and consultants from G-advisory. The main tasks included:

• Knowledge of the organization and preparation of a preliminary risk map.
• Training on compliance matters and preparation of the definitive risk map.
• Installation of and training on the compliance management tool (CORE).
• Preparation of the management system and its constituent documents.
• Support for the implementation of the compliance risk management systems.

Aim: design a relationship model of BANKIA with its subsidiaries in matters of criminal risk management.

The main tasks were the following:

• Propose a system for classifying the investees and indetify due diligence measures to be applied in each of them.
• Protocol to be followed before (i) new investee companies, (ii) increases in participations and (iii) divestments.
• Protocol to be followed for the future incorporation of companies.

Analysis of the activity carried out directly in Peru and indirectly through other Group companies located in third countries (Mexico, Colombia).

Analysis of the compliance mechanisms established at the Group level.

Analysis of applicable Peruvian regulations (Criminal compliance).

Realization of a map of risks (inherent and residual) and definition of the preventive model.

Aim: technical and business advice to the consortium of companies led by AGBAR for the presentation of a bid in the largest tender process for management of the integrated water cycle to date in Spain.

The main tasks included:

• Technical due diligence review of the facilities and operating data provided.
• Appraisal of amounts and needs in connection with the required investments.
• Preparation of water demand projections.
• Validation of the hypotheses of the economic and financial model prepared for the bid.

• Definition of the CDM project, specifying the scope of same.
• Analysis of the viability of the project as a CDM. Detailed analysis in order to determine whether the project is eligible according to the criteria established by the CDM Executive Board.
• Analysis of the Certified Emissions Reductions (CERs) obtainable by the project.
• Review of data relating to calculation of the baseline.
• Design of the project as a CDM: preparation of the Project Design Document. Selection of the most suitable baseline and monitoring methodology. Review of environmental aspects.
• Presentation of the project to the designated national authority (DNA) for obtainment of letters of no-objection and approval.
• Technical assistance for validation and registration. Assistance to the client for validation of the project by an designated operational entity (DOE) and registration of the project as a CDM.

• Gathering of information. Identification of the sectors to be studied and data sources.
• Evaluation of technologies and systems. Identification of the main mitigation technologies for each sector.
• Preparation of a support tool to quantify mitigation potential.
• Characterization and evaluation of mitigation costs and potential for the evaluated technologies.
• Preparation of database, scenarios, development of simulations, analysis and preparation of conclusions.

Technical assistance on the Global Energy Management Strategy (GEMS) of 25 storage facilities and pumping stations for hydrocarbon products from CLH, S.A. and designing PPA of electricity purchase

• Gathering and analysis of data on economic sectors in the regions of St. Petersburg and Leningrad.
• Analysis of the expected climate change impact.
• Identification of mitigation options in the region.
• Identification of adaptation options in the region.
• Design of the regional climate change strategy: principles and general considerations.