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DNV GL supports acquisition of UK’s largest feed-in-tariff wind portfolio

DNV GL supports acquisition of UK’s largest feed-in-tariff wind portfolio


DNV GL conducted independent technical analysis and Vendor’s Due Diligence of the entire 26.1 MW Ventus portfolio, comprising 53 operational feed-in-tariff wind turbines.

LONDON, United Kingdom : DNV GL secured a leading role as technical advisor to GVO Wind Ltd and Bluemerang Capital Ltd, supporting the sale of an 80% stake of the 26.1 MW Ventus portfolio of wind projects.

Ventus is the UK’s largest portfolio of feed-in-tariff wind turbines, comprising 53 operational projects located across the UK. The portfolio was acquired by Malaysian power utility Tenaga Nasional Berhad (TNB). This is TNB’s second acquisition in the UK, which brings its renewables portfolio to a total capacity of approximately 280 MW.

DNV GL conducted a technical analysis and Vendor’s Due Diligence of the entire Ventus portfolio and successfully supported the process which culminated in the GBP 171 million investment from TNB.

DNV GL’s wind experts developed tailored new tools to carry out individual operational energy production assessments for each of the 53 sites within the tight timescales imposed by the transaction, providing a forecast of the portfolio’s production over the next 20 years.

Harry Bond, CEO, Longspur Capital (investment manager of GVO Wind and Bluemerang Capital), said “DNV GL conducted a third-party evaluation of the Ventus portfolio and helped us to confirm the energy production assessment and technical capabilities of the turbines, as well as identify any risks or costs that the purchaser may be exposed to in the future. DNV GL’s world class experts makes them an important resource for validating the value of any asset.”

Prajeev Rasiah, Executive Vice President for DNV GL’s Energy business in Northern Europe, Middle East & Africa, said “The opportunity to be part of this project is a recognition of the trust that banks and financial institutions have in DNV GL’s position as an independent technical advisor. Through our independent insights and technical assessments of wind farms we help the renewables industry move forward with confidence and accelerate the transition towards a cleaner energy system.”

About DNV GL
DNV GL is a global quality assurance and risk management company. Driven by our purpose of safeguarding life, property and the environment, we enable our customers to advance the safety and sustainability of their business. Operating in more than 100 countries, our professionals are dedicated to helping customers in the maritime, oil & gas, power and renewables and other industries to make the world safer, smarter and greener.

In the power and renewables industry
DNV GL delivers world-renowned testing and advisory services to the energy value chain including renewables and energy efficiency. Our expertise spans onshore and offshore wind power, solar, conventional generation, transmission and distribution, smart grids, and sustainable energy use, as well as energy markets and regulations. Our experts support customers around the globe in delivering a safe, reliable, efficient, and sustainable energy supply. Learn more at dnvgl.com/energy.

Source: dnvgl
Anand Gupta Editor - EQ Int'l Media Network


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