rss icon Subscribe
desktop mobile

DNV GL Lends Support to Walney 3 Offshore Wind Project

Image: DNV GL

By Aiswarya Lakshmi

DNV GL has secured a role as technical advisor to a group of institutional lenders with their investment of the 659MW Walney Extension.

Located off the coast of North West England at Barrow-in-Furness, the Walney Extension offshore wind farm will bring a mix of wind turbine types, featuring 40 MHI Vestas V164 and 47 Siemens SWT-7.0-154 turbines.
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.
The group of lenders includes Aviva Investors, BlackRock Investment Management (UK) Limited, Legal & General Investment Management Real Assets and Macquarie Infrastructure Debt Investment Solution.
Through DNV GL's technical assessment to the group of lenders, the company's team of offshore experts provided valuable details on the risk profile of the offshore project, enabling the lenders to enter the strategically important and ever-expanding offshore wind market.
"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. 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. We are proud to support these new sources of investment into this market," said Prajeev Rasiah, Executive Vice President for DNV GL's Energy business in Northern Europe, Middle East & Africa.
DNV GL's comprehensive experience in lenders' and owners' due diligence for over 30 GW of wind projects, provided the group of lenders with detailed insight into the technical risk of their customers' investment decision.
Built in the Irish Sea, the newly expanded Walney wind farm will have a total generating capacity of 1.7 GW.

Feb 12, 2018

 

Contracts

DeepOcean Wins Equinor Susbsea Deal

Photo: DeepOcean Group Holding BV

Subsea services provider DeepOcean has been awarded a long-term contract involving subsea life of

Awilco Drilling Signs Contract With Shell

Photo: Awilco Drilling

Aberdeen-based Awilco Drilling said today that it had tied up a contract with Shell UK for the

Colombo Dockyard to Build Two Vessels for Iraq

D.V. Abeysinghe, Managing Director/ CEO of Colombo Dockyard PLC and Hiroki Namikawa, General Manager Energy Infrastructure Project Department of Toyota Tsusho Corporation exchanging the Contracts witnessed by Dr Toru Takehara Chairman of Colombo Dockyard PLC. Photo: Colombo Dockyard PLC

The leader of Shipbuilding Industry in Sri Lanka Colombo Dockyard PLC (CDPLC) has successfully

News

HMM to Order 20 Mega Containerships

(File photo: Hyundai Merchant Marine)

South Korea’s largest shipping line Hyundai Merchant Marine (HMM) announced it will order 20 new

Remote Control Gantry Cranes for Felixstowe Port

Two new remote-controlled gantry cranes have been delivered to the Port of Felixstowe Photo Felixstowe Port

The Port of Felixstowe has taken delivery of its first two remote control ship-to-shore gantry

Pirate Attacks Worsen in Gulf of Guinea - IMB

Photo courtesy ICC

A surge in armed attacks against ships around West Africa is pushing up global levels of piracy

Maritime Apps