Wood Group’s clean energy business has successfully completed its vendor’s technical due diligence of a portfolio of wind farms for Blue Energy.
Wood Group’s due diligence services included a full review of each wind project’s design, financing, and construction contracts, as well as health and safety compliance and expected energy yields.
The portfolio comprised of multiple wind farms across the UK including Beinneun Wind Farm in Fort Augustus, Cour Wind Farm in Kintyre Peninsula, and Grange Wind Farm in Scunthorpe.
“Wood Group prepared, against a tight timeline, an independent vendor due diligence and updated operational wind reports which were used by the purchaser during the transaction,” said Chris Dean, CEO at Blue Energy. “Blue Energy would have no hesitation in engaging Wood Group in the future as we develop and build-out our post-ROC onshore wind portfolio.”
As part of their scope of work, Wood Group’s engineers and consultants delivered technical due diligence services. This included carrying out a review of project design and technology, operational performance, environmental and permitting, financial model technical inputs, construction and operations contracts, health, and safety compliance and energy yield.
“Wood Group’s clean energy business has a longstanding relationship with Blue Energy having worked together on a number of projects over the past five years,” said David Banks, the team leader for the advisory services team at Wood Group. “We were delighted to work together once again and contribute to the successful sale of such an impressive portfolio of wind farms across the UK.”
The sale of the portfolio to Octopus Investments was completed in July 2017.
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