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Renewable Energy M&A Technical Advisory

Third-party technical advisory for mergers and acquisitions (M&A) in the renewable energy sector, spanning due diligence, asset assessment and permitting.

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Technical advisory support from launch to decommissioning

UL Solutions serves as your technical advisor across the asset life cycle — from due diligence and transaction support through operational assessment and later-stage asset decisions such as life extension and repowering. Workstreams are defined by project phase and asset condition, with scope adjusting as transaction requirements and timelines evolve. 

You also gain access to a broad range of technical disciplines within UL Solutions, providing added context across your projects. 

Grounded in observed asset data and operating history

Evaluations draw on asset performance data, equipment condition and historical operating patterns across wind, solar and energy storage. 

Clear separation of assumptions and evidence

Analysis separates model assumptions from observed performance, clearly distinguishing inputs from measured outcomes, with traceability from underlying data through evaluation to final investment decisions. 

Built for investment committee review

Outputs are structured for review under scrutiny, with findings clearly organized to support discussion, challenge and decision-making. 

Test investment assumptions against asset reality

Evaluate project risks by applying independent, third-party analysis to financial models, performance data and commercial contract terms. Examine key assumptions and identify where they may not reflect real operating conditions, including variability across sites, equipment state and operational profiles, to help inform portfolio and investment decisions. 

Financial modeling

Evaluate capital and operating expenditure (CAPEX/OPEX) assumptions and revenue models under defined scenarios. 

Contracts review

Review engineering, procurement and construction agreements to identify commercial and operational considerations. 

Developer capability

Assess the developer’s track record against stated future performance claims.

Examine operational performance and asset condition

Assess equipment, systems and historical performance data, including key indicators and performance ratios, to understand how assets operate under real conditions and where assumptions may diverge. 

Energy production  

Review operational energy production and historical output to assess performance across time horizons and portfolio-level impacts. This includes variability in generation and curtailment across sites. 

System performance analysis

Evaluate supervisory control and data acquisition (SCADA) data to identify performance trends, anomalies and system-level behavior across wind, solar and energy storage assets. 

Lifetime extension and repowering

Assess life extension and repowering options based on asset condition, performance data and operating assumptions. 

Assess environmental and permitting constraints on asset performance

Review project and site documentation to evaluate environmental, permitting and regulatory constraints that may affect asset performance, development timelines and ongoing obligations, including restrictions on land use, environmental approvals and permitting requirements that can delay or limit project execution. 

Equator Principles

Assess environmental and social considerations under the Equator Principles. 

Project impact

Review project impacts and associated conservation or mitigation measures. 

Integrated risk assessment

Assess mergers and acquisitions (M&A) projects for exposure across technical, environmental and commercial factors. 

See how technical evaluation is structured across the deal  

Learn how technical evaluation connects underlying data, assessment and final conclusions. Created for renewable energy buyers, sellers, investors and lenders evaluating renewable energy project or portfolio risk, this brochure shows how UL Solutions structures due diligence, operational analysis and permitting review. 

Download the mergers and acquisitions advisory brochure. 

Mergers and Acquisitions Advisory Brochure

Explore how we can help mitigate technical and financial risk and maximize investment value with our experienced team by your side.

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