PROJECTS / Old Harbor 190 MW LNG to Power Project

Old Harbor 190 MW LNG to Power Project

Latin America and the Caribbean

October 22, 2020

K&M was retained as the Lender’s Engineer by the prospective senior lender to a 190 MW gas-fired combined cycle power plant in the Caribbean. The plant will use Liquefied Natural Gas (LNG) delivered through a Floating Storage and Regasification Unit (FSRU). In the first phase of the project, K&M provided technical, commercial, and financial due diligence of the project. K&M reviewed all major project contracts, evaluated the plant’s technical and performance specifications, and performed a comprehensive financial model review, which included evaluating technical assumptions, verifying the model’s calculations of contractual obligations, and providing recommendations for sensitivity analysis. K&M also advised the lender on risk allocations and providing inputs to terms in the project financing agreements. In the second phase of the project, K&M provided construction monitoring services and advice to the lender regarding EPC contractor milestones and drawdown requests. K&M also produced reports covering work quality, change order requests, schedule and cost deviations, and performance testing prior to the commissioning of the plant.

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