Under the direction of Mr. Ivan Garcia, director of technical services, K&M analyzed the progress of an under-construction Jamaica combined heat and power gas turbine plant project. The project used K&M’s technical due diligence and lender’s engineer services. The purpose of the progress analysis was to provide third party validation of the status of construction, and the value of the construction services and materials delivered . The analysis also provided the eventual project lenders with an independent technical opinion on the project’s ability to be completed on time and within budget.
Mr. Ivan Garcia commented “A close examination of the construction budget and schedule from an independent perspective and check whether borrower’s assumptions in this regard are reasonable is one of the keys for the lenders to properly evaluate the project risks before signing a loan agreement.”
The K&M team assessed the project’s progress and current value by reviewing key project documents, materials receiving reports, payment records, construction reports and schedules. Mr. Garcia visited the construction site earlier this month to interview site construction management staff and assess progress. Following Mr. Garcia’s site visit, the transaction and technical services teams issued the client a report with their findings.
K&M’s other Jamaica projects include its current work as lenders’ technical advisor on the Old Harbour 190 MW combined cycle gas turbine power plant and previous engagements with a thermal IPP portfolio, the Hunts Bay power station, and the Rockfort 60 MW power station.