DNV GL successfully completed its due diligence work of the Nordergründe offshore wind farm in the North Sea, reviewing and quantifying the technical risks of the project. The John Laing Group commissioned DNV GL with the assessment and analysis of the project to make its investment decision and has announced its 30% stake acquisition of the wind farm.
Through DNV GL’s independent technical and planning evaluation, the John Laing Group received a realistic assessment for the shareholding in the offshore project with 18 wind turbines. As part of the due diligence, DNV GL took over the review and assessment of approvals, grid connection, development of the wind farm, technology, competence of contract partners, and O&M services.
“At times of high competition in offshore wind projects, working with an experienced partner is crucial to ensure the project success,” said Sue Peart, who is leading in the offshore wind sector for John Laing. “Given DNV GL’s track record we were confident that they would provide invaluable technical and commercial expertise to carry out the due diligence tasks required. Thanks to their deep understanding of the technical details and by providing commercial guidance for our assessment, the due diligence was delivered on time to an accelerated program.”
To complete the due diligence, DNV GL conducted a risk analysis in which all technical aspects of the project were evaluated. In addition, DNV GL provided an analysis of the best and worst-case scenarios of the offshore project to the client. The holistic approach of DNV GL enabled the due diligence team to carry out intensive testing in a very short period of time.
“The integrated due diligence team approach as applied in this project was one of the crucial means to ensure an in-depth assessment of the details in a very short time frame,” said Peter Frohböse, Principal Engineer at DNV GL’s due diligence team. “This involved the close cooperation of the DNV GL team the John Laing’s due diligence team and the legal and financial advisor.”
Filed Under: Construction, News, Offshore wind, Projects