DNV GL provides due diligence to institutional lenders for investment in 659 MW Walney offshore wind project - Norway Exports

Looking for a specific product?

Make a search for products & suppliers, articles & news.

DNV GL provides due diligence to institutional lenders for investment in 659 MW Walney offshore wind project

Through DNV GL’s technical assessment to the group of lenders,

Dnv Gl AS

Technical advisor’s due diligence enabled lenders to gain an understanding of the technical risk profile of the offshore wind project

LONDON, United Kingdom - 12 February 2018 – DNV GL, the world’s largest independent energy advisory and certification body, secured a leading role as technical advisor to a group of institutional lenders with their investment of the 659 MW Walney Extension. Located off the coast of North West England at Barrow-in-Furness, the Walney Extension offshore wind farm will bring a unique 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 
  • 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.


Associated companies:


Related news

Latest news

Servogear propulsion technology enable sustainable Arctic cruises

We are really happy to have Servogear on board,

Students develop "health check" to prevent cyberattacks

It is very rewarding working with cyber security,

DOF Subsea contract awards

DOF Subsea has been awarded a contract in the Atlantic region...

Invitation to Elkem’s second quarter and half year 2018 results presentation

The company will host a presentation at 8.00 a.m. 

DNV GL checks technical and financial risks of three Norwegian wind farms totaling 294 MW

Working alongside Norwegian developer Norsk Vind...

Sperre AS on National Geographic

Last autumn, National Geographic was on Lake Tinn in Norway...

DNV GL secures Shell Penguins contract

The Penguins field is in 165 metres (541 feet) of water,

DNV GL helps Borealis to realise ambitious energy targets by cutting over 360,000 tons of CO2 annually

Over the course of four years, 

Kickstart your autumn with «The AKVAculture Day”

The event, which takes place in BI’s facilities at Marineholmen in Bergen,