Evidence Zero
Funding Commitment Letter 2
Structured document preview (seed-rendered, same surface as the application report)
Commitment letter — project finance (subject to CPs)
| Application reference | TAC-2026-0010 |
|---|---|
| Project | Adalbertofield Solar Scheme |
| Developer / client | Kilback - Veum SPV Ltd |
| Parent developer | Hudson, Feeney and Ernser |
| Document (as filed) | Funding Commitment Letter 2 |
| Inferred type | funding commitment letter |
| Category | finance |
| Document date | 2026-08-04T07:35:55.000Z |
Meridian Project Finance Limited (“Lender”) confirms, subject to the conditions precedent listed in schedule A, its intention to provide senior debt facilities to Kilback - Veum SPV Ltd to part-fund Adalbertofield Solar Scheme (TAC-2026-0010). This letter is for connection-application evidence and is not an offer capable of acceptance unless and until executed facility documentation is delivered.
1. Facility headline
Facilities are expected to comprise a construction facility converting to a mini-perm with a tenor of up to eighteen (18) months post-PAC, sized against 73 MW (export) and the technology configuration (solar_plus_bess). Margins, commitment fees, and hedging strategy will be set out in term sheets under the borrower’s KYC pack.
Schedule A — illustrative conditions precedent
1. Executed EPC contract and key construction subcontracts within agreed thresholds.
2. Consents and land control evidence satisfactory to Lender’s counsel, including registration of necessary easements.
3. Insurance programme meeting minimum cover schedules and loss-payee endorsements.
4. Model audit sign-off on base case and sensitivities including curtailment and capture-rate assumptions.
Site due diligence is premised on West Deondre Site: 45989 Wuckert Glen, Fort Jennyfer and the connection scope at Terrencefort BSP · 132 kV class interface. Any material adverse change in grid curtailment forecasts or reinforcement timing will trigger a mandatory re-sizing discussion.
2. Drawdown mechanics and accounts
Drawdowns will follow a monthly certification against agreed milestones, with independent engineer certificates where required. Equity must fund first-use items as set out in the equity commitment letter before senior debt is available for certain construction packages.
3. Confidentiality
The parties will treat commercial terms as confidential save for disclosures to network operators, regulators, and professional advisers under customary confidentiality undertakings.
Meridian Project Finance Limited states an intention to provide senior debt facilities for Adalbertofield Solar Scheme.
Funding Commitment Letter 2 — supporting appendix
This appendix (sheet 4) supplements TAC-2026-0010 for Adalbertofield Solar Scheme. It cross-references the declared export capability (73 MW (export)), the technology mix (solar_plus_bess), and the connection scope at Terrencefort BSP · 132 kV class interface. Figures in the operator-facing pack may supersede this extract where stamped “controlled copy”.
| Workstream | Cross-ref | Operator review notes |
|---|---|---|
| Land & access | LA-4 | Verify red-line, access rights, and any wayleave assumptions against latest survey. |
| Planning & consent | PC-4 | Confirm commencement conditions and discharge of pre-commencement items. |
| Electrical design | EL-4 | Align SLD, protection, and fault level study with latest DNO / TO model version. |
| Programme | PR-4 | Critical path through reinforcement, primary plant, and commissioning tests. |
Upstream reinforcement costs and milestone securities are carved out pending operator confirmation.
Funding Commitment Letter 2 — supporting appendix
This appendix (sheet 5) supplements TAC-2026-0010 for Adalbertofield Solar Scheme. It cross-references the declared export capability (73 MW (export)), the technology mix (solar_plus_bess), and the connection scope at Terrencefort BSP · 132 kV class interface. Figures in the operator-facing pack may supersede this extract where stamped “controlled copy”.
The facility is subject to conditions precedent and final model audit, so balance cannot be proven from the letter alone.
| Workstream | Cross-ref | Operator review notes |
|---|---|---|
| Land & access | LA-5 | Verify red-line, access rights, and any wayleave assumptions against latest survey. |
| Planning & consent | PC-5 | Confirm commencement conditions and discharge of pre-commencement items. |
| Electrical design | EL-5 | Align SLD, protection, and fault level study with latest DNO / TO model version. |
| Programme | PR-5 | Critical path through reinforcement, primary plant, and commissioning tests. |
Funding Commitment Letter 2 — supporting appendix
This appendix (sheet 6) supplements TAC-2026-0010 for Adalbertofield Solar Scheme. It cross-references the declared export capability (73 MW (export)), the technology mix (solar_plus_bess), and the connection scope at Terrencefort BSP · 132 kV class interface. Figures in the operator-facing pack may supersede this extract where stamped “controlled copy”.
| Workstream | Cross-ref | Operator review notes |
|---|---|---|
| Land & access | LA-6 | Verify red-line, access rights, and any wayleave assumptions against latest survey. |
| Planning & consent | PC-6 | Confirm commencement conditions and discharge of pre-commencement items. |
| Electrical design | EL-6 | Align SLD, protection, and fault level study with latest DNO / TO model version. |
| Programme | PR-6 | Critical path through reinforcement, primary plant, and commissioning tests. |
Funding Commitment Letter 2 — supporting appendix
This appendix (sheet 7) supplements TAC-2026-0010 for Adalbertofield Solar Scheme. It cross-references the declared export capability (73 MW (export)), the technology mix (solar_plus_bess), and the connection scope at Terrencefort BSP · 132 kV class interface. Figures in the operator-facing pack may supersede this extract where stamped “controlled copy”.
| Workstream | Cross-ref | Operator review notes |
|---|---|---|
| Land & access | LA-7 | Verify red-line, access rights, and any wayleave assumptions against latest survey. |
| Planning & consent | PC-7 | Confirm commencement conditions and discharge of pre-commencement items. |
| Electrical design | EL-7 | Align SLD, protection, and fault level study with latest DNO / TO model version. |
| Programme | PR-7 | Critical path through reinforcement, primary plant, and commissioning tests. |
Cited Extracts
[1] Funding Commitment Letter 2 · p.1
Meridian Project Finance Limited confirms, subject to the conditions precedent listed in schedule A, its intention to provide senior debt facilities.
[2] Funding Commitment Letter 2 · p.3
Meridian Project Finance Limited states an intention to provide senior debt facilities for Adalbertofield Solar Scheme.
[3] Funding Commitment Letter 2 · p.5
The facility is subject to conditions precedent and final model audit, so balance cannot be proven from the letter alone.
[4] Funding Commitment Letter 2 · p.4
Upstream reinforcement costs and milestone securities are carved out pending operator confirmation.