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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 26.1MW Ventus portfolio, comprising 53 operational feed-in-tariff wind turbines.
  • The Due Diligence included a technical assessment of energy production, capabilities of the wind turbines, asset condition and operational risk.
  • DNV GL reached milestone of due diligence for over 30 GW of wind projects.

London, United Kingdom – 10th April 2018: 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 26.1MW Ventus portfolio of wind projects.

Ventus is the UK’s largest portfolio of feed-in-tariff (FiT) 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 280MW.

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 £171m 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. We provide classification, technical assurance, software and independent expert advisory services to the maritime, oil & gas, power and renewables industries. We also provide certification and supply chain services to customers across a wide range of industries. Operating in more than 100 countries, our experts are dedicated to helping customers make the world safer, smarter and greener.

DNV GL in the power and renewables industry

DNV GL delivers world-renowned testing and advisory services to the energy value chain including renewables and energy management. 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.

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