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OST Energy Capability and Experience
Part of Edif ERA
January 2016
Global Services
OST Energy Capability and Experience
Contents
1 Introduction to OST................................................................................................................... 1
2 Technical Services Overview.................................................................................................... 2
3 Description of Key Services...................................................................................................... 3
3.1 Due Diligence .................................................................................................................. 3
3.2 Analysis ........................................................................................................................... 3
3.3 Feasibility......................................................................................................................... 3
3.4 Environmental & Social and Planning............................................................................. 4
3.5 Technical Advisory .......................................................................................................... 4
3.6 Commercial Advisory ...................................................................................................... 5
3.7 Independent Technology Reviews.................................................................................. 5
3.8 Project Management ....................................................................................................... 6
3.9 Construction Monitoring .................................................................................................. 6
3.10 Asset Management ......................................................................................................... 7
3.11 Performance Optimisation............................................................................................... 7
4 Case Studies............................................................................................................................. 9
5 Recent Clients......................................................................................................................... 17
6 Awards and Recognitions ...................................................................................................... 18
1
OST Energy Capability and Experience
1 Introduction to OST
OST Energy is a wholly independent technical consultancy specialising in advising on commercial
and technical risks for renewable energy projects.
Our team works at the cutting edge of renewable project development, having advised on over
10,000 MW of operational and under construction plants comprising over 1000 utility scale projects.
OST Energy is assisting funders and developers realise the potential of many GW of pipeline
projects.
We work for Banks, Lenders, Private Equity Investors, Owners, IPP’s, Utilities and Developers with
projects in over 30 countries across the world on every inhabited continent.
Our extended network of consultants provides us with a deep understanding of local context and
regulatory framework. We have worked for hundreds of clients on projects throughout Europe, the
Middle East, Asia, Australia, Africa and the Americas. We currently have offices in the UK, Italy,
France, South Africa, Australia, Chile and the USA.
Figure 1: OST global offices and markets
2
OST Energy Capability and Experience
2 Technical Services Overview
OST Energy offers a complete package of technical advisory services for Investors, Owners, Lenders
and Developers and prides itself on quality of services and attention to detail developed through
years of experience in the industry.
We assist clients’ decision-making by providing tailored service packages to meet their specific
requirements. We offer support from initial feasibility through to decommissioning; supporting the
progression of a project through its development, construction and operation phases.
Figure 2: Key Services across the Project Lifecycle
3
OST Energy Capability and Experience
3 Description of Key Services
Our typical service offerings are presented as follows.
3.1 Due Diligence
At the heart of OST Energy’s expertise is the independent identification and evaluation of technical
and commercial risk, underpinned by the comprehensive assessment and implementation of
practical, cost effective risk management. We can provide, across the project lifecycle, critical input
to inform incisive decision-making by our Clients:
 Development Due Diligence (DD) - Technical and commercial assessment of individual
projects and portfolios yet to be subject to permit or consent determination, and where aspects
of the technical design and specification are in a preliminary stage.
 Owner’s Engineer / Lender’s Engineer - Appointed in the formal roles to assist investors or
project financiers in achieving a project Financial Close.
 Vendor DD / Acquisition DD - Providing detailed commercial and technical advice to secure
and enhance or critically appraise the value of assets in construction or operation. Assist in the
establishment of or review of all relevant project documentation. Provide a comprehensive
analysis of all high impact risks and appropriate mitigation options.
3.2 Analysis
Effective data analysis is critical in helping our Clients make the most of the information available to
understand achievable yield or to minimise overall cost and risk. Key components include:
 Resource assessment – selection and use of data is critical in forecasting project
performance; we combine our experience of satellite- and ground-based irradiation data with
our scientific judgement in order to audit, evaluate and present adapted to the Client’s
financial, engineering, or management demands.
 Energy yield assessment - The basic building-block of any project, OST will deliver a tailored
product, from a simple feasibility analysis to finance-grade estimates, including a detailed
breakdown of losses and uncertainties (P50, P90, etc.). We then guide our Clients in
interpreting the results and understanding how their project compares to others.
 Performance – a comprehensive understanding of project performance is necessary in order
to verify that EPC contractual requirements are met. Analysis of an operational plant can also
highlight any areas of underperformance which can be addressed in order to maximise a
plant’s output. Our data analysis services, together with additional services such as module
testing and thermographic analysis, allow us to gather valuable performance information in
order to optimise the value of our Clients’ assets.
3.3 Feasibility
OST Energy provides the following support to Developers at the feasibility assessment stage:
 Market review - strategy, planning and analysis.
4
OST Energy Capability and Experience
 Site selection - site identification and characterisation.
 Concept design - project sizing and preliminary design optimisation.
 Yield assessment – Irradiation review and indicative yield modelling.
 Land and permitting - lease and permitting review.
 Grid connection - initial assessment of grid connection options/offers.
 Technology review - review of key technology, suppliers, contractors.
 Introductions - review of contractors or suppliers, and introductions.
3.4 Environmental & Social and Planning
We have a wealth of experience in undertaking environmental and social due diligence against
Development Agencies and Lending Institution performance standards, such as IFC, EBRD and
Equator Principles. We also provide services to Developers in support of their planning or permitting
and funding requirements through planning applications, environmental reviews and environmental &
social scoping studies, impact assessments and management plans.
We have experience in sustainable development and corporate sustainability management, providing
organisations with support to help improve the sustainability of their business through the
identification of key risks and impacts on the environment and stakeholders.
3.5 Technical Advisory
Our team of experts can coordinate the provision of the following inputs to the design and
specification of all technical elements of a successful photovoltaic project, whether ground mounted
or rooftop:
 Equipment selection - Verify technical characteristics, regulatory compliance, standard
contract terms, and historic performance.
 Civil works / mechanical installation - Confirm the specification of all onsite ground works
and/or mechanical installation details. Review construction, restoration, decommissioning &
reinstatement methodologies and statements.
 Grid Connection - Establish connection feasibility including capacity under different
distribution or transmission voltages, optimise connection cost and associated offsite
reinforcement works versus onsite customer works, review grid offers or connection
agreements.
 Electrical Works - Review the onsite works outside of the responsibility of the network
operator. Establish scope of supply interfaces for equipment supply, installation and testing.
 Ancillary Works - Confirm the requirements for SCADA telecommunications and metering.
 Environmental Services - Review pre- and post-commencement environmental works and
consent or permit compliance requirements.
 Site Investigation - Coordinate Geotechnical and Geo-environmental investigations and
studies including land contamination and risk assessments.
 Transportation, Access and Installation - Assessment of delivery constraints, review of
highways agreements and third party access rights. Lay down and access track
configurations.
5
OST Energy Capability and Experience
3.6 Commercial Advisory
Based on a deep understanding of the technical and commercial aspects of procurement, we can
help our Clients establish the framework for the tender and negotiation of construction contracts. Our
experience in working alongside financial and legal advisors helps our Clients to understand project
risks and establish mechanisms for their mitigation and / or management; we can assist in reviewing
financial model assumptions and establish appropriate levels of general and line item contingency:
 Form of Contract - EPC or multi-contract approaches, on a build to design or design and
build basis, for balance sheet investment, recourse or non-recourse project finance.
 Procurement - Establish appropriate Employers Requirements to be incorporated into final
contract documents, coordinate formal and informal tenders and assess submissions. Under
multi-contract scenarios we identify all scope of supply and programme related interfaces.
Formalise Grid Connection Contract Agreement variations.
 Contract Negotiations - Whether leading or advising on contract negotiations we apply our
knowledge and experience to secure appropriate payment terms, periods of defect liability,
warranties, Liquidated and Ascertained Damages (LADs) and compensation. We will assess
the technical and commercial implications of limits of liability, warranty exclusions and Owner's
obligations, the provisions covering extensions of Time and / or Cost, and the practical triggers
for default and termination.
 Risk Assessment and Mitigation - We will prepare project risk registers and identify
immediate and ongoing options for risk mitigation and management, particularly around scope
of supply and programme interfaces, and the effective delivery of the project against all
Employer's Requirements.
 Financial Model Assumptions - Verify the cost implications for risk mitigation, refining
CAPEX and OPEX assumptions from budgets to contract awards, and recommending
appropriate levels of general and line item contingency.
 Offtake Arrangements - Assist in independent power purchase agreement (PPA)
negotiations where applicable and appraise tariff regime compliance and optimisation.
3.7 Independent Technology Reviews
OST Energy offers independent technology reviews to assess the suitability of components (such as
modules and inverters) for use in photovoltaic projects. These reviews can help Clients to mitigate
risk associated with key items of equipment used on a project, for example where a supplier is a new
entrant to the market and cannot demonstrate a long track record in the industry. Reviews typically
cover the following key areas:
 Technical Overview of the Supplier - including performance of reference projects utilising
the equipment, market acceptance, supply chain, performance guarantees, warranty and
claims provision and environmental, health and safety practices.
 Technical Overview of the Equipment - based on manufacturer supplied data and where
appropriate, verified by an independent laboratory. Additional testing can be carried out to
confirm the reliability of the equipment.
6
OST Energy Capability and Experience
 Factory Assessment - Review of the production processes used through a factory
assessment, including subcomponent supply, quality control, testing facilities, health and
safety.
3.8 Project Management
Acting under formal appointment to the project Owner as Engineer or Employer’s Representative we
offer a full suite of project management capabilities ranging from a simple onsite construction
supervision role to full responsibility for administration of contracts to engagement with all
stakeholders:
 Construction Supervision - Resident Engineer or Site Representation to oversee all
construction activity, including responsibility for interface management. Witnessing and
inspection of component deliveries, achievement of key milestones, mechanical and electrical
completion, tests on completion and site reinstatement. Compilation of snagging lists. Liaison
with the relevant electricity network operator for grid energisation and grid compliance testing.
 Health and Safety - Review design and construction risk assessments. Assistance with
establishing safe working practices and site rules. Coordinate compilation of site Health and
Safety File.
 Contract Administration - Acceptance and sign off of all contract milestone payments, certify
component deliveries, mechanical and electrical completion and tests on completion. Certify
Take-over events including issuance of snagging lists. Secure, review and accept as-built
drawings and project documentation and certify project completion. Coordinate claims
management including defect repair or replacement, delay LADs and repayment of retention
sums.
 Permit & Statutory Obligation Compliance - Oversee discharge of suspensive and non-
suspensive, pre-commencement and post-commencement consent conditions. Coordinate
non-material consent variations. Ensure all third party environmental or access licenses or
easements are secured and maintained.
 Land Rights Liaison - Interface with landowner and other stakeholders.
3.9 Construction Monitoring
As an extension of the Lender’s Engineer role, representing a secondary investor’s interest, or acting
on behalf of a prospective Owner, we have established a tailored construction monitoring service to
undertake regular site inspections, witness key stages of construction activity, and formally review
project completion and handover documentation.
 Construction Monitoring - Witnessing and inspection of key milestones. Review and report
on payment certification documentation, acceptance tests, grid compliance tests, as-built
drawings and project completion documentation. Assess status of initial commercial
operations and confirm compliance of offtake arrangements under tariff regime or power
purchase agreement.
7
OST Energy Capability and Experience
3.10 Asset Management
Good asset management leads to better financial and operating results. Proper management of
technical, contractual, administrative, and financial aspects is key for maximising project revenues.
As shown in Figure 3 below, we offer a full suite of services to support Owners in the day to day
operation of projects.
Figure 3: Asset Management Services
 Site management - Supervision of maintenance, remote monitoring and reporting, health and
safety monitoring, coordinating High Voltage (HV) switching, stakeholder management,
landowner engagement
 Risk management - identification of cost/personnel risk
 Contracts - contract management or assessment of compliance with standards, best practice
and policies, and recourse support, including warranties and claims.
 Faults - fault finding, lab/mechanical testing, remediation support, condition monitoring
 Inspections and audits - end of warranty, data loss prevention inspections, verification of
compliance with authorisations, network and statutory requirements
 Short-term forecasting - modelling, daily forecasts, trading support.
3.11 Performance Optimisation
Whilst asset management activities include for a degree of optimisation, there can be a need for
strategic interventions to assess the potential for performance improvements. This can be associated
with the project approaching a critical milestone such as wholesale refurbishment, the expiry of
manufacturer warranties or manufacturer maintenance support, or indeed potential project sale. It
8
OST Energy Capability and Experience
can also be tied to wider benchmarking of the project within a portfolio or to best practice across the
industry.
 O&M review - benchmarking of technology or support services, spare parts and supply
management strategy, retrofit or replacement planning.
 Maintenance - review of maintenance practices to ensure compliance with contracts,
standards to keep operations aligned with industry best practice.
 Service performance reconciliation - desktop assessment, from a high level review to a
complete data trawl, to reconcile preconstruction estimates with operational data.
 Power performance tests - detailed analysis of incident irradiation and electrical output in
order to assess plant performance.
9
OST Energy Capability and Experience
4 Case Studies
A selection of case studies detailing our typical services is presented below.
Solar PV
Independent Engineer; 350MW portfolio, UK
OST’s role: Independent Engineer (IE)
Client: US investment firm
Date: 2014 - ongoing
OST was appointed by the equity investors in a portfolio of 32 ground mount PV projects totalling
approximately 350MW in the UK to advise on investment decisions and acceptance milestone
approvals.
A full due diligence and plant assessment scope was delivered following a phased and streamlined
reporting approach devised to meet the Client’s ambitious timeline.
Viability of the projects was verified at the initial investment stage and prior to EPC contract signing
with input from the IE on risk mitigation and contracting terms. Construction quality and requirement
for improvement were assessed and supervised at completion and through to successful project
acceptance.
Owner’s Engineer; 570 MW Portfolio, North America
OST’s role: Owner’s Engineer – Engineering and
Technology review support
Client: Confidential IPP
Date: 2015 - 2016
OST is appointed to provide engineering support for this solar PV portfolio that is being constructed
in North America. The scope of work includes the review of all applied technologies and systems as
they are presented by the Client or EPC’s for application into these portfolio projects. Technologies
10
OST Energy Capability and Experience
under review include first-of-its-kind cabling systems, monitoring and management systems, inverters
and inverter skid packages, tracking and tracker control systems, and bi-directional inverters for
battery charge and discharge control.
Lenders Engineer; Operational ground mount Portfolio, UK
OST’s role: Lender’s Technical Advisor (LTA)
Client: Confidential consortium; UK and international
Lenders and US ratings agency
Date: 2014/2015
OST acted as LTA in the financing of a portfolio of 26 operational ground mounted PV projects in the
UK with a total capacity of 70MW. The scope was to provide due diligence review of the complex
portfolio including the following key elements:
 Analysis of project contracts including EPC, O&M and asset management agreements to highlight
and quantify Lender protections and risks to the financial base case.
 Analysis of plant construction quality in concert with Lender representation during acceptance
process to quantify outstanding cost liabilities.
 Detailed yield analysis and operational performance review to inform revenue expectations at
project and portfolio level.
 Technical financial model inputs including, lifetime maintenance cost requirements, generation
expectations and downside scenarios
Lenders TA; Various PV Projects, South African Renewable Energy IPP Programme
OST’s role: Lenders Technical Due Diligence,
Construction Monitoring and Acceptance
Testing sign off
Client: Various confidential investors
Date: Round 2 (2012) to Round 4C (2015)
11
OST Energy Capability and Experience
OST was commissioned to provide technical advice to various South African banks and development
funds on a number of ground mounted tracked and fixed photovoltaic projects bidding into the
REIPPPP programme with a combined capacity of ~1.2 GW (average capacity 75MW). OST
provided an independent Technical Due Diligence of the projects highlighting potential risks to the
funders.
The reviews included a thorough examination of the proposed sites, projects design and technology
as well as yield estimation to ascertain the viability of the projects. Additionally, the suite of permitting
and environmental documents was reviewed to establish the compliance of the projects with their
requirements. These documents included the environmental impact assessment and authorisation,
all statutory consultations such as the Departments of Agriculture and Mineral resources, the local
Municipalities and Eskom’s grid connection documents. Development support and a review of the
EPC and O&M contract heads of terms were carried out to guarantee performance of the plants and
protection of the investment. The projects were also assessed against Equator Principles and IFC
requirements.
Lender’s Engineer- 73 MW Commercial Rooftop portfolio - France
OST’s role:Technical Due Diligence, Construction
Monitoring and Acceptance Testing
Client: DIF and Confidential Banks
Date: May 2010 – On-going
OST has undertaken a variety of works from initial due diligence to acceptance test sign off for a
portfolio of 29 large scale projects in France, with a total installed capacity of 73 MW. The projects
were developed by a large French supermarket chain and are a mix of rooftop and car park shelter
systems. Initially OST assisted the client in contract negotiations with the Developer/EPC Contractor
to ensure a fair distribution of construction and operational risk. This was followed by a technical
review of each project covering technology, energy yield study, structural, permitting and grid
connection, as well as provision of technical inputs to the investors’ financial model. Sites were then
visited during construction and at the testing phase to verify plant performance at takeover. The
projects were successfully acquired and are performing above expectations.
12
OST Energy Capability and Experience
Wind
Independent Engineer; 500+ MW Onshore Portfolio. Greece, USA, Poland, Bulgaria
OST’s role: Independent Engineer
Client: Confidential Investor
Date: 2013/2014
OST was commissioned by a financial advisor assisting a US-based global financing provider to
provide an independent technical evaluation of a large operating wind portfolio (approx. 500 MW) in
Greece, USA, Poland and Bulgaria and a wind project pipeline in Greece. OST’s role was to assess
the technical capabilities of the company’s operation and asset management team, the project
development team and the procurement and construction team. This included analysis of
operational performance (KPI and O&M reports), assessment of the economics of the portfolio and
the evaluation of the project schedule, and a review of the Country’s regulatory framework and
renewable energy supporting mechanisms.
Lender’s Engineer; 14.1 MW Edintore Wind Farm, Scotland
OST’s role: Yield analysis, due diligence and construction
monitoring
Client: NORD/LB
Date: 2015 - Ongoing
OST was appointed to provide Lender’s Engineer due diligence on a 6 turbine project in
Aberdeenshire. The project is expected to achieve Financial Close in October 2015 and is expected
to be commissioned by the end of 2016. In addition to the Technical Due Diligence Report OST also
conducted an independent Energy Yield Assessment which included a peer review of and
comparison to the existing study. These assessments provided the Lender with a forecast of P50 and
P90 annual output based upon final contract terms for the transaction financial model.
13
OST Energy Capability and Experience
Independent Engineer; 80 MW Tarkastaad Wind Farm & 140 MW Molteno Wind Farm, South
Africa
OST’s role: Development support and yield analysis
Client: Afri-Coast
Date: 2014
OST was commissioned to provide development services and analysis including preliminary wind
resource estimation and site wind mapping in the absence of on-site wind data. The role involved
advice and guidance on key investment decision milestones.
Independent Engineer, 50 MW Wind Farm, Egypt
OST’s role: Yield and feasibility
Client: GDF Suez / International Power S.A.
Date: April 2015
OST was commissioned by GDF Suez to conduct a pre-feasibility assessment and environmental
and social assessment of two 50 MW wind (and various solar) projects which are being developed
under the Egyptian Feed-in Tariff (FIT) Scheme located on a number of land plots that the New and
Renewable Energy Authority (NREA) will allocate to successful bidders.
14
OST Energy Capability and Experience
Energy Storage
Technical Advisor; 36 MW storage facility, Texas
OST’s role: Technical Advisor
Client: Confidential client
Date: May 2015
OST Energy was commissioned as Technical Advisor for the due diligence process of a large scale
36 MW battery storage facility in Texas.
The assignment included the review of the proposed statement of work, testing schedules and
performance guarantees involved in upgrading a sub system of the facility’s lead acid batteries for
Samsung SDI’s lithium-ion batteries. The system needs to have sufficient operational storage
capacity to provide continuous frequency regulation dispatch energy to increase grid frequency or
absorb energy to decrease grid frequency. Within the review of the contractual schedules OST
focused on the proposed operational constraints for the lithium storage’s annual energy throughput,
allowable operational state of charge ranges and utilisation intensity (C-rate) in relation to the
system’s established operational requirements.
The Texas grid is the smallest of the grids in the United States, requiring a greater proportion of
stabilising capacity in relation to its size. The necessity to deliver high intensity energy release and
store responses naturally leads to thermal generation and dissipation requirements which OST also
reviewed as part of the operational warranty parameters.
Technical advisor; Off Grid Solar PV power for 40 Healthcare Centres in Kaduna State, Nigeria
OST’s role: Technical Advisor during procurement
Client: EM-ONE
Date: October 2015
OST Energy was commissioned by EM-ONE as Technical Advisor to deliver the procurement
specifications for 40 stand-alone PV and energy storage systems for Primary Healthcare Centres
across Kaduna State, Nigeria. EM-ONE is a Canadian energy and utility solutions company with
15
OST Energy Capability and Experience
offices in Nigeria; they are focused on bringing sustainable power to rural and urban communities in
Africa.
OST Energy delivered a complete set of technical specifications for the procurement of the systems
and their integral components, within which commissioning and testing process documentation and
guidance was provided, along with technical advice to support the individual component technical
specifications, including the PV solar arrays, integrated battery banks, inverters, charge controllers,
distribution equipment and enclosures.
Funded by the UK Government’s Department for International Development, as part of their
‘SolarNigeria’ Programme, the systems are designed to provide 100% of the power needs of the
Primary Healthcare Centres, 24 hours a day.
Implementation of energy storage and PV Plants in the Sicilan grid
OST’s role: Technical Advisor
Client: Antin Solar Investments
Date: August 2015
OST Energy was commissioned as Technical Advisor by Antin Solar Investments who were looking
to increase the potential revenues obtainable from large scale PV plants located in the Italian region
of Sicily. The purpose of the project was to review the financial opportunities of implementing energy
storage systems into the PV plants on the island, in particular with a hydrogen battery technology
solution.
Review of the financial modelling centred on the potential investment returns of providing ancillary
market electricity balancing services to Terna who are responsible for national electricity
transmission management and development in Italy.
The analysis included the IRR impact of variations to the value of spinning reserve in Sicily, capacity
payments for the service and varying Capex cost considerations including development costs. The
study also highlighted matters of warranty requirement, distribution network charges and O&M
consideration.
OST Energy also highlighted the opportunity of integrating the energy intensive hydrogen battery
solution’s open architecture with other power intensive technologies such as lithium-ion. This would
enable the system to deliver other potential revenue streams such as grid frequency and voltage
stabilisation services.
16
OST Energy Capability and Experience
Other
Technical and Commercial Advisory for CSP Project in Australia
OST’s role: Technical Advisor
Client: Confidential client
Date: 2015
OST Energy was appointed to provide independent technical and commercial advice on a ‘Solar
Boost’ plant, a 44MW linear Fresnel CSP addition to a 750MW super critical coal fired power station
located near South West Queensland, Australia. The purpose of the project was to initially conduct a
high level assessment of technical risks associated with the completion of the plant, followed by a
review of documentation and intellectual property in order to enable the completion of outstanding
works, and finally a high level risk assessment of receiver boiler tube and selective solar coating
alternatives in pursuance of a procurement decision making logic that addresses key technical and
financial criteria of alternative solutions.
Asset Management and operational monitoring – Wind and Solar portfolios, UK and Europe
OST’s role: Asset Management and operational monitoring
Client: Various owners, lenders and investors
Date: Ongoing
OST is contracted by multiple clients for the provision of Asset Management and operational
monitoring services in Italy, Romania, and UK. OST uses monitoring systems to continuously control
and monitor PV plants from our offices in Brighton and Italy. Through daily analysis of irradiation,
wind and energy production data, technical problems with the plant are quickly flagged up. Our
analysis of Plant data results in faster O&M Contractor response times to technical issues.
Availability of the Plants are improved; maximising the annual energy yield and generation revenue
for the Owner. Ongoing on-site assessments detect maintenance requirements early and minimise
costs and failures.
17
OST Energy Capability and Experience
5 Recent Clients
A selection of our recent clients is presented below:
18
OST Energy Capability and Experience
6 Awards and Recognitions
OST Energy is a multi-award winning company. Our achievements include the following:
Other awards include;
 CorporateLiveWire Global Awards - Renewables Advisory Firm of the Year
 Finance Monthly Global Awards in 2013, 2012 and 2010
 ACQ Global Awards in 2013, 2012, 2010 and 2009
 International Business Awards, Company of the Year - Energy & Utilities
Further information about OST Energy including our latest news feed can be found on our website
(http://www.ostenergy.com).
19
OST Energy Capability and Experience
UK – HQ BRIGHTON UK – LONDON
OST Energy
2nd
Floor Nile House
Nile Street
Brighton, BN1 1HW, UK
+44 (0)1273 819 429
info@ostenergy.com
OST Energy
5th
Floor
81 Piccadilly South
Mayfair, W1J 8HY, UK
+44 (0)207 629 0017
info@ostenergy.com
USA ITALY
OST Energy North America
P.O.BOX 5345
Plymouth, Michigan
48170, U.S.A
+1 734 377 4649
info@ostenergy.com
OST Italia
Via Ugo Bassi 7
20159 – Milano
Italy
+39 02 4539 1280
ostitalia@ostenergy.com
SOUTH AFRICA AUSTRALIA
OST Energy Africa
Conescan Office Suite 1
6th
Floor 79, Roeland Street
Cape Town, South Africa
+27 (0)71 639 4462
info@ostenergy.com
OST Energy Asia Pacific
Suite 126, 117 Old Pittwater Road
Brookvale, NSW 2100
Australia
+61 488 065151
info@ostenergy.com
INDIA
OST Energy India
7th Floor, Infinity Tower B South
DLF Cyber City
Gurgaon, 12002, India
+91 (0)124 4537800
info@ostenergy.com
Website: www.ostenergy.com
Twitter: @ost_energy

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OST Energy - Global Services

  • 1. OST Energy Capability and Experience Part of Edif ERA January 2016 Global Services
  • 2. OST Energy Capability and Experience Contents 1 Introduction to OST................................................................................................................... 1 2 Technical Services Overview.................................................................................................... 2 3 Description of Key Services...................................................................................................... 3 3.1 Due Diligence .................................................................................................................. 3 3.2 Analysis ........................................................................................................................... 3 3.3 Feasibility......................................................................................................................... 3 3.4 Environmental & Social and Planning............................................................................. 4 3.5 Technical Advisory .......................................................................................................... 4 3.6 Commercial Advisory ...................................................................................................... 5 3.7 Independent Technology Reviews.................................................................................. 5 3.8 Project Management ....................................................................................................... 6 3.9 Construction Monitoring .................................................................................................. 6 3.10 Asset Management ......................................................................................................... 7 3.11 Performance Optimisation............................................................................................... 7 4 Case Studies............................................................................................................................. 9 5 Recent Clients......................................................................................................................... 17 6 Awards and Recognitions ...................................................................................................... 18
  • 3. 1 OST Energy Capability and Experience 1 Introduction to OST OST Energy is a wholly independent technical consultancy specialising in advising on commercial and technical risks for renewable energy projects. Our team works at the cutting edge of renewable project development, having advised on over 10,000 MW of operational and under construction plants comprising over 1000 utility scale projects. OST Energy is assisting funders and developers realise the potential of many GW of pipeline projects. We work for Banks, Lenders, Private Equity Investors, Owners, IPP’s, Utilities and Developers with projects in over 30 countries across the world on every inhabited continent. Our extended network of consultants provides us with a deep understanding of local context and regulatory framework. We have worked for hundreds of clients on projects throughout Europe, the Middle East, Asia, Australia, Africa and the Americas. We currently have offices in the UK, Italy, France, South Africa, Australia, Chile and the USA. Figure 1: OST global offices and markets
  • 4. 2 OST Energy Capability and Experience 2 Technical Services Overview OST Energy offers a complete package of technical advisory services for Investors, Owners, Lenders and Developers and prides itself on quality of services and attention to detail developed through years of experience in the industry. We assist clients’ decision-making by providing tailored service packages to meet their specific requirements. We offer support from initial feasibility through to decommissioning; supporting the progression of a project through its development, construction and operation phases. Figure 2: Key Services across the Project Lifecycle
  • 5. 3 OST Energy Capability and Experience 3 Description of Key Services Our typical service offerings are presented as follows. 3.1 Due Diligence At the heart of OST Energy’s expertise is the independent identification and evaluation of technical and commercial risk, underpinned by the comprehensive assessment and implementation of practical, cost effective risk management. We can provide, across the project lifecycle, critical input to inform incisive decision-making by our Clients:  Development Due Diligence (DD) - Technical and commercial assessment of individual projects and portfolios yet to be subject to permit or consent determination, and where aspects of the technical design and specification are in a preliminary stage.  Owner’s Engineer / Lender’s Engineer - Appointed in the formal roles to assist investors or project financiers in achieving a project Financial Close.  Vendor DD / Acquisition DD - Providing detailed commercial and technical advice to secure and enhance or critically appraise the value of assets in construction or operation. Assist in the establishment of or review of all relevant project documentation. Provide a comprehensive analysis of all high impact risks and appropriate mitigation options. 3.2 Analysis Effective data analysis is critical in helping our Clients make the most of the information available to understand achievable yield or to minimise overall cost and risk. Key components include:  Resource assessment – selection and use of data is critical in forecasting project performance; we combine our experience of satellite- and ground-based irradiation data with our scientific judgement in order to audit, evaluate and present adapted to the Client’s financial, engineering, or management demands.  Energy yield assessment - The basic building-block of any project, OST will deliver a tailored product, from a simple feasibility analysis to finance-grade estimates, including a detailed breakdown of losses and uncertainties (P50, P90, etc.). We then guide our Clients in interpreting the results and understanding how their project compares to others.  Performance – a comprehensive understanding of project performance is necessary in order to verify that EPC contractual requirements are met. Analysis of an operational plant can also highlight any areas of underperformance which can be addressed in order to maximise a plant’s output. Our data analysis services, together with additional services such as module testing and thermographic analysis, allow us to gather valuable performance information in order to optimise the value of our Clients’ assets. 3.3 Feasibility OST Energy provides the following support to Developers at the feasibility assessment stage:  Market review - strategy, planning and analysis.
  • 6. 4 OST Energy Capability and Experience  Site selection - site identification and characterisation.  Concept design - project sizing and preliminary design optimisation.  Yield assessment – Irradiation review and indicative yield modelling.  Land and permitting - lease and permitting review.  Grid connection - initial assessment of grid connection options/offers.  Technology review - review of key technology, suppliers, contractors.  Introductions - review of contractors or suppliers, and introductions. 3.4 Environmental & Social and Planning We have a wealth of experience in undertaking environmental and social due diligence against Development Agencies and Lending Institution performance standards, such as IFC, EBRD and Equator Principles. We also provide services to Developers in support of their planning or permitting and funding requirements through planning applications, environmental reviews and environmental & social scoping studies, impact assessments and management plans. We have experience in sustainable development and corporate sustainability management, providing organisations with support to help improve the sustainability of their business through the identification of key risks and impacts on the environment and stakeholders. 3.5 Technical Advisory Our team of experts can coordinate the provision of the following inputs to the design and specification of all technical elements of a successful photovoltaic project, whether ground mounted or rooftop:  Equipment selection - Verify technical characteristics, regulatory compliance, standard contract terms, and historic performance.  Civil works / mechanical installation - Confirm the specification of all onsite ground works and/or mechanical installation details. Review construction, restoration, decommissioning & reinstatement methodologies and statements.  Grid Connection - Establish connection feasibility including capacity under different distribution or transmission voltages, optimise connection cost and associated offsite reinforcement works versus onsite customer works, review grid offers or connection agreements.  Electrical Works - Review the onsite works outside of the responsibility of the network operator. Establish scope of supply interfaces for equipment supply, installation and testing.  Ancillary Works - Confirm the requirements for SCADA telecommunications and metering.  Environmental Services - Review pre- and post-commencement environmental works and consent or permit compliance requirements.  Site Investigation - Coordinate Geotechnical and Geo-environmental investigations and studies including land contamination and risk assessments.  Transportation, Access and Installation - Assessment of delivery constraints, review of highways agreements and third party access rights. Lay down and access track configurations.
  • 7. 5 OST Energy Capability and Experience 3.6 Commercial Advisory Based on a deep understanding of the technical and commercial aspects of procurement, we can help our Clients establish the framework for the tender and negotiation of construction contracts. Our experience in working alongside financial and legal advisors helps our Clients to understand project risks and establish mechanisms for their mitigation and / or management; we can assist in reviewing financial model assumptions and establish appropriate levels of general and line item contingency:  Form of Contract - EPC or multi-contract approaches, on a build to design or design and build basis, for balance sheet investment, recourse or non-recourse project finance.  Procurement - Establish appropriate Employers Requirements to be incorporated into final contract documents, coordinate formal and informal tenders and assess submissions. Under multi-contract scenarios we identify all scope of supply and programme related interfaces. Formalise Grid Connection Contract Agreement variations.  Contract Negotiations - Whether leading or advising on contract negotiations we apply our knowledge and experience to secure appropriate payment terms, periods of defect liability, warranties, Liquidated and Ascertained Damages (LADs) and compensation. We will assess the technical and commercial implications of limits of liability, warranty exclusions and Owner's obligations, the provisions covering extensions of Time and / or Cost, and the practical triggers for default and termination.  Risk Assessment and Mitigation - We will prepare project risk registers and identify immediate and ongoing options for risk mitigation and management, particularly around scope of supply and programme interfaces, and the effective delivery of the project against all Employer's Requirements.  Financial Model Assumptions - Verify the cost implications for risk mitigation, refining CAPEX and OPEX assumptions from budgets to contract awards, and recommending appropriate levels of general and line item contingency.  Offtake Arrangements - Assist in independent power purchase agreement (PPA) negotiations where applicable and appraise tariff regime compliance and optimisation. 3.7 Independent Technology Reviews OST Energy offers independent technology reviews to assess the suitability of components (such as modules and inverters) for use in photovoltaic projects. These reviews can help Clients to mitigate risk associated with key items of equipment used on a project, for example where a supplier is a new entrant to the market and cannot demonstrate a long track record in the industry. Reviews typically cover the following key areas:  Technical Overview of the Supplier - including performance of reference projects utilising the equipment, market acceptance, supply chain, performance guarantees, warranty and claims provision and environmental, health and safety practices.  Technical Overview of the Equipment - based on manufacturer supplied data and where appropriate, verified by an independent laboratory. Additional testing can be carried out to confirm the reliability of the equipment.
  • 8. 6 OST Energy Capability and Experience  Factory Assessment - Review of the production processes used through a factory assessment, including subcomponent supply, quality control, testing facilities, health and safety. 3.8 Project Management Acting under formal appointment to the project Owner as Engineer or Employer’s Representative we offer a full suite of project management capabilities ranging from a simple onsite construction supervision role to full responsibility for administration of contracts to engagement with all stakeholders:  Construction Supervision - Resident Engineer or Site Representation to oversee all construction activity, including responsibility for interface management. Witnessing and inspection of component deliveries, achievement of key milestones, mechanical and electrical completion, tests on completion and site reinstatement. Compilation of snagging lists. Liaison with the relevant electricity network operator for grid energisation and grid compliance testing.  Health and Safety - Review design and construction risk assessments. Assistance with establishing safe working practices and site rules. Coordinate compilation of site Health and Safety File.  Contract Administration - Acceptance and sign off of all contract milestone payments, certify component deliveries, mechanical and electrical completion and tests on completion. Certify Take-over events including issuance of snagging lists. Secure, review and accept as-built drawings and project documentation and certify project completion. Coordinate claims management including defect repair or replacement, delay LADs and repayment of retention sums.  Permit & Statutory Obligation Compliance - Oversee discharge of suspensive and non- suspensive, pre-commencement and post-commencement consent conditions. Coordinate non-material consent variations. Ensure all third party environmental or access licenses or easements are secured and maintained.  Land Rights Liaison - Interface with landowner and other stakeholders. 3.9 Construction Monitoring As an extension of the Lender’s Engineer role, representing a secondary investor’s interest, or acting on behalf of a prospective Owner, we have established a tailored construction monitoring service to undertake regular site inspections, witness key stages of construction activity, and formally review project completion and handover documentation.  Construction Monitoring - Witnessing and inspection of key milestones. Review and report on payment certification documentation, acceptance tests, grid compliance tests, as-built drawings and project completion documentation. Assess status of initial commercial operations and confirm compliance of offtake arrangements under tariff regime or power purchase agreement.
  • 9. 7 OST Energy Capability and Experience 3.10 Asset Management Good asset management leads to better financial and operating results. Proper management of technical, contractual, administrative, and financial aspects is key for maximising project revenues. As shown in Figure 3 below, we offer a full suite of services to support Owners in the day to day operation of projects. Figure 3: Asset Management Services  Site management - Supervision of maintenance, remote monitoring and reporting, health and safety monitoring, coordinating High Voltage (HV) switching, stakeholder management, landowner engagement  Risk management - identification of cost/personnel risk  Contracts - contract management or assessment of compliance with standards, best practice and policies, and recourse support, including warranties and claims.  Faults - fault finding, lab/mechanical testing, remediation support, condition monitoring  Inspections and audits - end of warranty, data loss prevention inspections, verification of compliance with authorisations, network and statutory requirements  Short-term forecasting - modelling, daily forecasts, trading support. 3.11 Performance Optimisation Whilst asset management activities include for a degree of optimisation, there can be a need for strategic interventions to assess the potential for performance improvements. This can be associated with the project approaching a critical milestone such as wholesale refurbishment, the expiry of manufacturer warranties or manufacturer maintenance support, or indeed potential project sale. It
  • 10. 8 OST Energy Capability and Experience can also be tied to wider benchmarking of the project within a portfolio or to best practice across the industry.  O&M review - benchmarking of technology or support services, spare parts and supply management strategy, retrofit or replacement planning.  Maintenance - review of maintenance practices to ensure compliance with contracts, standards to keep operations aligned with industry best practice.  Service performance reconciliation - desktop assessment, from a high level review to a complete data trawl, to reconcile preconstruction estimates with operational data.  Power performance tests - detailed analysis of incident irradiation and electrical output in order to assess plant performance.
  • 11. 9 OST Energy Capability and Experience 4 Case Studies A selection of case studies detailing our typical services is presented below. Solar PV Independent Engineer; 350MW portfolio, UK OST’s role: Independent Engineer (IE) Client: US investment firm Date: 2014 - ongoing OST was appointed by the equity investors in a portfolio of 32 ground mount PV projects totalling approximately 350MW in the UK to advise on investment decisions and acceptance milestone approvals. A full due diligence and plant assessment scope was delivered following a phased and streamlined reporting approach devised to meet the Client’s ambitious timeline. Viability of the projects was verified at the initial investment stage and prior to EPC contract signing with input from the IE on risk mitigation and contracting terms. Construction quality and requirement for improvement were assessed and supervised at completion and through to successful project acceptance. Owner’s Engineer; 570 MW Portfolio, North America OST’s role: Owner’s Engineer – Engineering and Technology review support Client: Confidential IPP Date: 2015 - 2016 OST is appointed to provide engineering support for this solar PV portfolio that is being constructed in North America. The scope of work includes the review of all applied technologies and systems as they are presented by the Client or EPC’s for application into these portfolio projects. Technologies
  • 12. 10 OST Energy Capability and Experience under review include first-of-its-kind cabling systems, monitoring and management systems, inverters and inverter skid packages, tracking and tracker control systems, and bi-directional inverters for battery charge and discharge control. Lenders Engineer; Operational ground mount Portfolio, UK OST’s role: Lender’s Technical Advisor (LTA) Client: Confidential consortium; UK and international Lenders and US ratings agency Date: 2014/2015 OST acted as LTA in the financing of a portfolio of 26 operational ground mounted PV projects in the UK with a total capacity of 70MW. The scope was to provide due diligence review of the complex portfolio including the following key elements:  Analysis of project contracts including EPC, O&M and asset management agreements to highlight and quantify Lender protections and risks to the financial base case.  Analysis of plant construction quality in concert with Lender representation during acceptance process to quantify outstanding cost liabilities.  Detailed yield analysis and operational performance review to inform revenue expectations at project and portfolio level.  Technical financial model inputs including, lifetime maintenance cost requirements, generation expectations and downside scenarios Lenders TA; Various PV Projects, South African Renewable Energy IPP Programme OST’s role: Lenders Technical Due Diligence, Construction Monitoring and Acceptance Testing sign off Client: Various confidential investors Date: Round 2 (2012) to Round 4C (2015)
  • 13. 11 OST Energy Capability and Experience OST was commissioned to provide technical advice to various South African banks and development funds on a number of ground mounted tracked and fixed photovoltaic projects bidding into the REIPPPP programme with a combined capacity of ~1.2 GW (average capacity 75MW). OST provided an independent Technical Due Diligence of the projects highlighting potential risks to the funders. The reviews included a thorough examination of the proposed sites, projects design and technology as well as yield estimation to ascertain the viability of the projects. Additionally, the suite of permitting and environmental documents was reviewed to establish the compliance of the projects with their requirements. These documents included the environmental impact assessment and authorisation, all statutory consultations such as the Departments of Agriculture and Mineral resources, the local Municipalities and Eskom’s grid connection documents. Development support and a review of the EPC and O&M contract heads of terms were carried out to guarantee performance of the plants and protection of the investment. The projects were also assessed against Equator Principles and IFC requirements. Lender’s Engineer- 73 MW Commercial Rooftop portfolio - France OST’s role:Technical Due Diligence, Construction Monitoring and Acceptance Testing Client: DIF and Confidential Banks Date: May 2010 – On-going OST has undertaken a variety of works from initial due diligence to acceptance test sign off for a portfolio of 29 large scale projects in France, with a total installed capacity of 73 MW. The projects were developed by a large French supermarket chain and are a mix of rooftop and car park shelter systems. Initially OST assisted the client in contract negotiations with the Developer/EPC Contractor to ensure a fair distribution of construction and operational risk. This was followed by a technical review of each project covering technology, energy yield study, structural, permitting and grid connection, as well as provision of technical inputs to the investors’ financial model. Sites were then visited during construction and at the testing phase to verify plant performance at takeover. The projects were successfully acquired and are performing above expectations.
  • 14. 12 OST Energy Capability and Experience Wind Independent Engineer; 500+ MW Onshore Portfolio. Greece, USA, Poland, Bulgaria OST’s role: Independent Engineer Client: Confidential Investor Date: 2013/2014 OST was commissioned by a financial advisor assisting a US-based global financing provider to provide an independent technical evaluation of a large operating wind portfolio (approx. 500 MW) in Greece, USA, Poland and Bulgaria and a wind project pipeline in Greece. OST’s role was to assess the technical capabilities of the company’s operation and asset management team, the project development team and the procurement and construction team. This included analysis of operational performance (KPI and O&M reports), assessment of the economics of the portfolio and the evaluation of the project schedule, and a review of the Country’s regulatory framework and renewable energy supporting mechanisms. Lender’s Engineer; 14.1 MW Edintore Wind Farm, Scotland OST’s role: Yield analysis, due diligence and construction monitoring Client: NORD/LB Date: 2015 - Ongoing OST was appointed to provide Lender’s Engineer due diligence on a 6 turbine project in Aberdeenshire. The project is expected to achieve Financial Close in October 2015 and is expected to be commissioned by the end of 2016. In addition to the Technical Due Diligence Report OST also conducted an independent Energy Yield Assessment which included a peer review of and comparison to the existing study. These assessments provided the Lender with a forecast of P50 and P90 annual output based upon final contract terms for the transaction financial model.
  • 15. 13 OST Energy Capability and Experience Independent Engineer; 80 MW Tarkastaad Wind Farm & 140 MW Molteno Wind Farm, South Africa OST’s role: Development support and yield analysis Client: Afri-Coast Date: 2014 OST was commissioned to provide development services and analysis including preliminary wind resource estimation and site wind mapping in the absence of on-site wind data. The role involved advice and guidance on key investment decision milestones. Independent Engineer, 50 MW Wind Farm, Egypt OST’s role: Yield and feasibility Client: GDF Suez / International Power S.A. Date: April 2015 OST was commissioned by GDF Suez to conduct a pre-feasibility assessment and environmental and social assessment of two 50 MW wind (and various solar) projects which are being developed under the Egyptian Feed-in Tariff (FIT) Scheme located on a number of land plots that the New and Renewable Energy Authority (NREA) will allocate to successful bidders.
  • 16. 14 OST Energy Capability and Experience Energy Storage Technical Advisor; 36 MW storage facility, Texas OST’s role: Technical Advisor Client: Confidential client Date: May 2015 OST Energy was commissioned as Technical Advisor for the due diligence process of a large scale 36 MW battery storage facility in Texas. The assignment included the review of the proposed statement of work, testing schedules and performance guarantees involved in upgrading a sub system of the facility’s lead acid batteries for Samsung SDI’s lithium-ion batteries. The system needs to have sufficient operational storage capacity to provide continuous frequency regulation dispatch energy to increase grid frequency or absorb energy to decrease grid frequency. Within the review of the contractual schedules OST focused on the proposed operational constraints for the lithium storage’s annual energy throughput, allowable operational state of charge ranges and utilisation intensity (C-rate) in relation to the system’s established operational requirements. The Texas grid is the smallest of the grids in the United States, requiring a greater proportion of stabilising capacity in relation to its size. The necessity to deliver high intensity energy release and store responses naturally leads to thermal generation and dissipation requirements which OST also reviewed as part of the operational warranty parameters. Technical advisor; Off Grid Solar PV power for 40 Healthcare Centres in Kaduna State, Nigeria OST’s role: Technical Advisor during procurement Client: EM-ONE Date: October 2015 OST Energy was commissioned by EM-ONE as Technical Advisor to deliver the procurement specifications for 40 stand-alone PV and energy storage systems for Primary Healthcare Centres across Kaduna State, Nigeria. EM-ONE is a Canadian energy and utility solutions company with
  • 17. 15 OST Energy Capability and Experience offices in Nigeria; they are focused on bringing sustainable power to rural and urban communities in Africa. OST Energy delivered a complete set of technical specifications for the procurement of the systems and their integral components, within which commissioning and testing process documentation and guidance was provided, along with technical advice to support the individual component technical specifications, including the PV solar arrays, integrated battery banks, inverters, charge controllers, distribution equipment and enclosures. Funded by the UK Government’s Department for International Development, as part of their ‘SolarNigeria’ Programme, the systems are designed to provide 100% of the power needs of the Primary Healthcare Centres, 24 hours a day. Implementation of energy storage and PV Plants in the Sicilan grid OST’s role: Technical Advisor Client: Antin Solar Investments Date: August 2015 OST Energy was commissioned as Technical Advisor by Antin Solar Investments who were looking to increase the potential revenues obtainable from large scale PV plants located in the Italian region of Sicily. The purpose of the project was to review the financial opportunities of implementing energy storage systems into the PV plants on the island, in particular with a hydrogen battery technology solution. Review of the financial modelling centred on the potential investment returns of providing ancillary market electricity balancing services to Terna who are responsible for national electricity transmission management and development in Italy. The analysis included the IRR impact of variations to the value of spinning reserve in Sicily, capacity payments for the service and varying Capex cost considerations including development costs. The study also highlighted matters of warranty requirement, distribution network charges and O&M consideration. OST Energy also highlighted the opportunity of integrating the energy intensive hydrogen battery solution’s open architecture with other power intensive technologies such as lithium-ion. This would enable the system to deliver other potential revenue streams such as grid frequency and voltage stabilisation services.
  • 18. 16 OST Energy Capability and Experience Other Technical and Commercial Advisory for CSP Project in Australia OST’s role: Technical Advisor Client: Confidential client Date: 2015 OST Energy was appointed to provide independent technical and commercial advice on a ‘Solar Boost’ plant, a 44MW linear Fresnel CSP addition to a 750MW super critical coal fired power station located near South West Queensland, Australia. The purpose of the project was to initially conduct a high level assessment of technical risks associated with the completion of the plant, followed by a review of documentation and intellectual property in order to enable the completion of outstanding works, and finally a high level risk assessment of receiver boiler tube and selective solar coating alternatives in pursuance of a procurement decision making logic that addresses key technical and financial criteria of alternative solutions. Asset Management and operational monitoring – Wind and Solar portfolios, UK and Europe OST’s role: Asset Management and operational monitoring Client: Various owners, lenders and investors Date: Ongoing OST is contracted by multiple clients for the provision of Asset Management and operational monitoring services in Italy, Romania, and UK. OST uses monitoring systems to continuously control and monitor PV plants from our offices in Brighton and Italy. Through daily analysis of irradiation, wind and energy production data, technical problems with the plant are quickly flagged up. Our analysis of Plant data results in faster O&M Contractor response times to technical issues. Availability of the Plants are improved; maximising the annual energy yield and generation revenue for the Owner. Ongoing on-site assessments detect maintenance requirements early and minimise costs and failures.
  • 19. 17 OST Energy Capability and Experience 5 Recent Clients A selection of our recent clients is presented below:
  • 20. 18 OST Energy Capability and Experience 6 Awards and Recognitions OST Energy is a multi-award winning company. Our achievements include the following: Other awards include;  CorporateLiveWire Global Awards - Renewables Advisory Firm of the Year  Finance Monthly Global Awards in 2013, 2012 and 2010  ACQ Global Awards in 2013, 2012, 2010 and 2009  International Business Awards, Company of the Year - Energy & Utilities Further information about OST Energy including our latest news feed can be found on our website (http://www.ostenergy.com).
  • 21. 19 OST Energy Capability and Experience UK – HQ BRIGHTON UK – LONDON OST Energy 2nd Floor Nile House Nile Street Brighton, BN1 1HW, UK +44 (0)1273 819 429 info@ostenergy.com OST Energy 5th Floor 81 Piccadilly South Mayfair, W1J 8HY, UK +44 (0)207 629 0017 info@ostenergy.com USA ITALY OST Energy North America P.O.BOX 5345 Plymouth, Michigan 48170, U.S.A +1 734 377 4649 info@ostenergy.com OST Italia Via Ugo Bassi 7 20159 – Milano Italy +39 02 4539 1280 ostitalia@ostenergy.com SOUTH AFRICA AUSTRALIA OST Energy Africa Conescan Office Suite 1 6th Floor 79, Roeland Street Cape Town, South Africa +27 (0)71 639 4462 info@ostenergy.com OST Energy Asia Pacific Suite 126, 117 Old Pittwater Road Brookvale, NSW 2100 Australia +61 488 065151 info@ostenergy.com INDIA OST Energy India 7th Floor, Infinity Tower B South DLF Cyber City Gurgaon, 12002, India +91 (0)124 4537800 info@ostenergy.com Website: www.ostenergy.com Twitter: @ost_energy