Independent operational verification for the desks you fund
You fund European energy trading desks. You need to verify the operations are sound. Right now there is no standardised way to do it.
The problem
Infrastructure lenders, PE firms, and fund managers funding BESS, wind, and solar assets with a trading component all face the same question: is this desk operationally sound?
The Green Loan Protocol (2025) now mandates an external Verification Report alongside every annual Green Loan Report. BESS project finance covenants increasingly require evidence of operational health. But there is no common framework for producing that evidence.
The result: lenders verifying billion-pound tolling arrangements in spreadsheets. Fund managers with no independent view of what their optimiser is actually capturing. Five BESS lending syndicates, five different ad hoc approaches to operational verification.
What we provide
Power Desk Score (portfolio assessment tool)
A free, standardised self-assessment that maps a desk's operational capability against the full revenue stack. Send it to every desk you fund for a consistent baseline. Results are comparable across assets and geographies.
Operational Due Diligence memos
Independent verification of trading desk operational health, delivered as a structured memo your credit committee can act on. Covers P&L reconciliation, settlement assurance, regulatory compliance (REMIT II, EMIR), and revenue stack access.
Covenant compliance certificates
Ongoing verification that operational covenants are being met. Delivered on schedule, with evidence your auditor can rely on. Replaces ad hoc spreadsheet reviews with a repeatable, independent process.
Independent settlement verification
We independently verify what the desk (or its optimiser) is capturing against what is available in the market. For tolling arrangements, this answers the question your board keeps asking: are we getting fair value?
Where the experience comes from
Our team has built production trading infrastructure at Shell, Centrica, and Limejump. Not advisory decks. Systems that reconcile real P&L, meet regulatory deadlines, and run in production every day. That is what gives our verification evidence its weight.
We recommend Qualia as the ETRM layer and build the operational assurance infrastructure around it. We are not replacing your portfolio company's trade capture system. We are the independent verification layer that makes the operations bankable.
Let's talk
If you fund European energy trading desks and want to discuss how independent operational verification fits into your process, book a conversation.
Book a conversationOr send the Power Desk Score to a portfolio company