DNV GL on Walney Extension Due Dilligence Duty

DNV GL has acted as technical advisor to a group of institutional lenders with their investment in the 659MW Walney Extension offshore wind farm.

The group of lenders includes Aviva Investors, BlackRock Investment Management (UK) Limited, Legal & General Investment Management Real Assets, and Macquarie Infrastructure Debt Investment Solution.

DNV GL conducted a detailed technical due diligence study and full independent energy production assessment, allowing the group of lenders to develop an understanding of the technical characteristics and risk profile.

Through DNV GL’s technical assessment to the group of lenders, the company’s team of offshore experts provided details on the risk profile of the offshore project, enabling the lenders to enter the strategically important and ever-expanding offshore wind market, DNV GL said.

“As the offshore wind industry matures, new lenders are entering this rapidly growing market, seeking stable long-term returns which are sustainable, and economically considerate,” said Prajeev Rasiah, Executive Vice President for DNV GL’s Energy business in Northern Europe, Middle East & Africa.

”DNV GL has broad experience in offshore wind since 1993 and this venture into one of the world’s largest offshore wind farms was, for many of the lenders, their first in offshore wind. This is yet another indication of the importance of offshore wind in our growing low carbon energy system.” 

Located off the coast of North West England at Barrow-in-Furness, the Walney Extension offshore wind farm will bring a unique mix of wind turbine types, featuring 40 MHI Vestas V164 and 47 Siemens SWT-7.0-154 turbines.

The wind farm, which is a shared-ownership project between Ørsted (50%) and two Danish pension funds PFA (25%) and PKA (25%), is due for completion in the second half of 2018, when it will become the biggest operating offshore wind farm in the world.

 

Share this article

Follow Offshore Wind

Events>

<< Nov 2018 >>
MTWTFSS
29 30 31 1 2 3 4
5 6 7 8 9 10 11
12 13 14 15 16 17 18
19 20 21 22 23 24 25
26 27 28 29 30 1 2

5th Asia Offshore Wind Day 2019

The event will bring together senior executives active in the offshore wind industry in Asia…

read more >

ACI’s Operating Specialist Wind Vessels 2018

Already on its 5th edition, ACI’s Operating Specialist Wind Vessels 2018 will bring together senior executives and experts from ship owners

read more >

Benelux Infrastructure Forum

This year’s highly-anticipated event will focus on exploring new financing mechanisms and alternative markets for future…

read more >

Offshore Wind Europe 2018

The Offshore Wind Europe speaker line-up is supported by executives who are leading the charge…

read more >

Jobs>

Senior Operations & Maintenance Engineer

The Senior O&M Engineer (Structural) sits within the Asset Integrity Management Department team of Offshore O&M, reporting to a Lead O&M Engineer...

apply

O&M Lead Contract Manager

Here at Scottish Power Renewables we’re committed to remaining a UK leader in renewable energy. As well as investing in our technologies, we are committed to investing in the future of extraordinary people like you...

apply

Senior Contract Manager

Here at Scottish Power Renewables we’re committed to remaining a UK leader in renewable energy. As well as investing in our technologies, we are committed to investing in the future of extraordinary people like you...

apply

Vessels>