Projects and Clients

Nimpana Hydropower Station - Peru

We carried out the Capex/Opex estimation and the economic and financial analysis for the feasibility study for a new hydropower plant in Peru. The plant will have an installed capacity of 14 MW and will provide electricity for the mining activities of the Client, working as an isolated power system and complementing existing power-sources. Undertaken for Lombardi.

Costera Cartagena-Barranquilla Concession

We led a joint venture team with TPF Getinsa Euroestudios as technical advisors to Globalvia in the prospective acquisition process of Colombia’s Costera Concession, a 147km-long, USD 240m highway project linking the coastal cities of Cartagena and Barranquilla. We assessed the technical risks of the transaction and produced independent CapEx and OpEx projections for the 23-year contract period.

Indonesia PPP Project Development Facility

Solvere was contracted to lead the team of consultants at the PPP Project Development Facility of Bappenas (Indonesia Planning Agency), financed by ADB and the Netherlands. The IRDSP facility helped the government identify, prepare and transact PPP projects, and provided support in policy and regulatory reform and capacity building. The project pipeline included 5 water projects, 3 waste management projects, 7 transport projects and 2 urban and tourism projects.

Screening of Wastewater PPP Programme – Dragados

Solvere advised a consortium led by Dragados during the bidding process for a programme of concession contracts to build and operate a large wastewater networks and treatment plants in Spain. The services included the analysis of the bidding documents, elaboration of detailed business models, risk analysis and recommendations for the bid strategy.

Identification and Management System for Strategic Infrastructure – Abertis

Abertis appointed Solvere to develop and implement a methodology to identify and manage the strategic infrastructures in the network. This allows the Client to filter the assets based on “all-hazards” indexes and increase the resilience of their business. The work included developing a decision-support solution with data input, calculation and visualisation tools.

Portfolio of transport assets, justice courts and prisons, Spain – Mirova

We provided technical due diligence services to Mirova in the acquisition process of a portfolio of assets including roads, railways, justice courts and prisons in Spain. Undertaken for Steer Davies Gleave.

Mexico Toll Roads Acquisition, Mexico – Abertis

Solvere was the technical and demand/revenue advisor of Abertis in the potential acquisition of a Mexican highway operator that owned over 1,000 km of toll roads. We developed independent CapEx, OpEx and revenue models and carried out asset condition and risk assessments with recommendations to the Client.

Chicago Skyway Due Diligence, USA – Abertis

We developed the life cycle cost model and carried out the asset condition evaluation and CapEx due diligence for Abertis in the potential acquisition the Chicago Skyway, a major 1950’s urban toll road with heavy traffic and 90+ years concession remaining. Undertaken for Jacobs.

Portfolio of 200+ Car Parks, Spain-Portugal – Empark

Solvere carried out the independent technical due diligence required in the credit rating process for the issuance of corporate debt by a major car park operator in Spain and Portugal. The portfolio analyzed comprised 172 assets and our work included the assessment of asset condition, commercial risk analysis, life cycle cost modelling and cost forecasting. Undertaken for Steer Davies Gleave.

Xiaolan District Heating PPP, China – ADB

Solvere conducted the project coordination and financial analysis in the Pre-Feasibility Study of a 2 MW cooling, 1.3 MW heating district co-generation PPP project in Xiaolan. The system will provide 120 GWh cooling to over 750k m2 of buildings. Reporting to the Asian Development Bank and the Cities Development Initiative Asia.

Costa da Morte Highway, Spain – COPASA Concesiones

Technical advisors to the lending consortium (BBVA, Banesto, Bankia, La Caixa, NCG, Santander) in the financial closing Due Diligence of Costa da Morte, an availability-based PPP highway in Galicia, Spain. The scope included CapEx, OpEx and the payment mechanism as well as cross-cutting financial and commercial issues. Undertaken for Jacobs.

Acquisition of 5 brownfield toll roads, Chile – Costa Rica – Mexico – Spain

Solvere carried out the technical due diligence, including CapEx, OpEx and commercial, for the potential acquisition by a group of pension funds of 5 toll roads owned by Globalvia: SCADA and SCADI in Chile, AUSOL in Costa Rica, Nueva Necaxa in Mexico and M45 in Spain. Undertaken for Jacobs. Client:confidential.

Payment Mechanism in Road PPPs, Spain – Acciona, Cintra, Meridiam, Copasa

We developed probabilistic models of performance indicators in the A-334 and A-66 highway concessions in Spain. The availability-based contracts included more than 40 indicators. Our models were used by Acciona, Cintra and Meridiam (A-334) and Copasa (A-66) to determine the probable range of payment deductions, with the objective of quantifying the contractual and financial risks.

Acquisition of Portfolio of 10 Brownfield Toll Roads, Chile

Solvere performed the OpEx, CapEx and commercial analysis in the technical due diligence for the potential acquisition by CPPIB of two separate portfolios of highways in Chile: Grupo Costanera -Costanera Norte, Vespucio Sur, Radial Nororiente, Acceso Vial AMB and Litoral Centro-; and ISA -Ruta del Maipo, Ruta del Maule, Ruta del Bosque, Ruta de la Araucanía and Ruta de los Ríos-. Undertaken for Jacobs.

Globalvia Acquisition Technical Due Diligence – Khazanah

Solvere provided technical advisory services to Khazanah Nasional Berhad to evaluate the CapEx, OpEx, asset condition and contractual risks in the potential acquisition of Globalvia. The portfolio comprised roads, railways and a transport hub in Spain, Portugal, Chile, Mexico and Costa Rica. Undertaken for Steer Davies Gleave.

West Semarang Water Supply PPP, Indonesia – IIF and ADB

Solvere was advisor to the Indonesian Government, IIF and the Asian Development Bank in the preparation of the Final Business Case and cost-benefit analysis for a water supply project in Central Java, Indonesia. The Government Contracting Agency is the Municipal Government of Semarang, supported by PT Indonesia Infrastruktur Finance (IIF) as the transaction advisor.

Bilkent, Adana and Ikitelli Hospital PPPs, Turkey – Ministry of Health

Solvere prepared the commercial, financial and operational components of the feasibility studies for Bilkent, Adana and Ikitelli Health Campuses, adding up to over 7,000 beds and $1.2 billion investments. Additionally, we developed a probabilistic model to assess the risks and contingencies for the government’s Health PPP Unit.

Sustainable Urban Developments, Mexico

We provided technical advice to various private developers in Mexico to audit the infrastructure plans and designs for large urban developments -up to 150,000 houses- in order to gain Integrated Sustainable Development Certification (DUIS). DUIS certification assures developers access to more attractive financing solutions and indirectly introduces these companies to a large pool of potential investors.

Offshore Wind Market Strategic Study

Solvere carried out an independent assessment of business opportunities in the global offshore wind market for Isolux Corsan. Our work included identifying value and cost drivers, barriers, commercial and technical risks and preparing a business roadmap.

Our Clients: