HAMBURG, Germany – 7 February 2018 – DNV GL, the world’s largest resource of independent energy experts and certification body, has successfully completed a comprehensive due diligence project on the 730 MW Borssele III/IV construction-ready offshore wind project in the Netherlands.
The work was commissioned by Partners Group, the global private markets investment manager, in preparation for its successful bid to acquire a 45% stake in the project on behalf of its clients. The investment will make funds managed and/or advised by Partners Group the largest shareholder in the Borssele III/IV farm.
The Borssele III/IV offshore wind farm will comprise seventy-seven Vestas 9.5 MW turbines across two sites in the North Sea, approximately 25 km off the Dutch coast. Construction is due to start in the second-half of 2018 and commercial operations are expected to commence in 2021. When fully operational, Borssele III/IV is expected to generate 3 TWh per year, enough to power approximately 825,000 households. Before bidding to acquire shares from existing investors including Shell, Mitsubishi and Eneco, Partners Group contracted DNV GL to carry out a technical due diligence on the project. This featured an independent engineering review of the technical details of the project and associated contractors and companies, including technical details of the market environment.
“At a time of intense focus on the offshore wind industry, the Dutch project auctions have been monitored with a great deal of interest around the world. Our interdisciplinary and cross-border team of technical experts provided Partners Group with a comprehensive technical due diligence ahead of their investment,” said Andreas Schröter, Executive Vice President Central Europe & Mediterranean at DNV GL – Energy.