<img height="1" width="1" style="display:none" src="https://www.facebook.com/tr?id=1994804767464638&amp;ev=PageView&amp;noscript=1">

Supporting Foresight Group’s first portfolio acquisition in Germany

Foresight Group successfully completed its first wind acquisition in Germany – 50 MW of operational assets acquired from WPD -with technical due diligence and energy yield analysis from K2 Management.

K2 Management acted as technical adviser to Foresight and conducted energy analysis and due diligence services. In the first phase, we performed due diligence of existing energy yield assessments, followed by a red flag assessment of the portfolio to understand the status of permits and consent, site suitability of the WTGs and contractual situation. The team further reviewed the WTG inspection reports and performed a site visit for each of the operational assets to get a first-hand impression of the site and quality of the assets.

 A full technical due diligence assessment was then undertaken, which considered permitting and consenting, technology and design, capability of contractors and operators, project construction and delivery, operations and asset management contract review, grid connection and direct marketing agreement review, SDL bonus and conformity declaration review, and a review of the financial model and cost assumptions.

Specialist analysts also reviewed the expected technical losses proposed in the energy yield assessment and K2 Management offered ad hoc technical support on various topics including lifetime extension.

The deal saw Foresight Group acquire the 45MW Krackow and the 5MW Seubersdorf wind farms, in partnership with Korea Investment & Securities (KIS).

K2 Management has worked on over 300 MW of assets with Foresight since 2017, spanning acquisition, energy yield and due diligence mandates on European projects.

Jochen Gassert, Senior Due Diligence Consultant at K2 Management, commented: “Supporting Foresight on this transaction was a pleasure and the successful completion of this acquisition cements a great working partnership. Having worked on many wind acquisitions, both in Europe and globally, our team brought insights from across the industry as well as technical expertise to ensure a smooth transaction. We are delighted that Foresight has reached this milestone and will look forward to supporting Foresight as it grows its portfolio.”

Foresight

We are pleased to have entered the German wind market and this significant acquisition further strengthens Foresight’s diversified portfolio of renewable technologies. Appointing K2 Management as technical advisor on this acquisition really added value in terms of thoroughly understanding technical risks and Germany-specific requirements, ensuring robustness of our financial model.

The K2 Management team was very responsive and their insights into technical risks gave us a big picture view of the deal with a firm understanding of the key detail, which gave us comfort in moving forward with the transaction.

Charlie Wright
Senior Investment Manager

You might also be interested in

CGN Irish portfolio acquisition | Acquisition support for Irish onshore portfolio

K2 Management is proud to announce it has supported existing client, investor CGN Europe Energy S.A.S. (CGNEE), with their acquisition of 14 wind projects across Northern Ireland and the Republic of Ireland.

Alta Sertao II - Brazilian portfolio |  Acquisition due diligence

AES Tietê Energia has acquired the 386 MW Alto Sertão II wind portfolio in Brazil for R$600m ($193m USD), with technical due diligence support from K2 Management and TNEI.

Airvolution | Bankable energy yield assessment

Non-standard bankable energy yield assessment for 8.55 MW Airfield Wind Farm, subject to multiple constraints. We enabled our client to fully understand the potential energy yield of the project and select the best solution. 

BANKS Renewables | Energy yield assessment for two onshore CfD projects

From field to financing - energy yield assessment of two onshore CfD projects: Kype Muir and Middle Muir. Only a handful of onshore wind projects successfully secured contracts under the first CfD allocation round in 2015. We are pleased to have supported Banks Renewables in bringing two of these to financial close, Kype Muir and Middle Muir.

200 MW onshore project in Texas | Acquisition due diligence

Rapid acquisition support for 200 MW project in Texas, USA, operational for less than one year. Our analysis helped the client with inspections, analyzing data for turbines and inspection of power curves. 

Irish investment firm | Due diligence complete on UK solar portfolio

An Irish investment firm was considering the acquisition of an operational solar portfolio, consisting of 22 ground-mounted solar plants and over 8,000 rooftop mounted solar sites in the UK. 

Contour Global | O&M service setup for Latin American wind portfolio

K2 Management was engaged by investor, Contour Global, based in USA, to deliver support in moving from a basic O&M set up to a full O&M support structure for a wind portfolio in Latin America.

Acquisition due diligence | ewz

Swiss utility, ewz, commissioned K2 Management to deliver a full acquisition due diligence mandate for its acquisition of 30.1 MW Stigafjellet onshore wind farm in Norway.

Mainstream Renewable Power | A client focused approach to analysis

Mainstream Renewable Power - “K2 Management provides us with the client-focused approach that we value”

Advising ESB in 50% stake in Neart Na Gaoithe

ESB appointed K2 Management to support them in acquiring a 50% stake in the 448 MW Neart Na Gaoithe offshore wind farm.

K2 Management advises on bp's first offshore wind venture

K2 Management delivered acquisition due diligence services in support of bp’s first step into the offshore wind market – a 50% stake in Equinor’s Empire Wind and Beacon Wind assets.

Our role on the acquisition of Denmark’s largest onshore wind farm

Utility, AURA Energi’s subsidiary AURA VE, engaged K2 Management to provide due diligence services to support the acquisition of a 50% stake in the biggest onshore wind farm in Denmark.

Let us know what's on your mind

 
Got something to say, but not sure who to say it to?

Getting in touch is easy - just fill out this form and we'll put you in touch with the right person.