Macquarie | Technical due diligence on acquisition of Green Investment Bank

2

offshore wind projects

All wind assets

acquisition

£2.3bn

A consortium led by Australian bank, Macquarie, has agreed to purchase the UK’s Green Investment Bank today in a £2.3bn GBP deal. K2 Management led the technical due diligence on the transaction on behalf of Macquarie after being appointed in 2016.

K2 Management’s specialists undertook detailed technical reviews of the status and performance of GIB’s wind assets. This involved assessing the construction status and costs for two major offshore wind projects, and providing comfort to Macquarie, its partners and lenders on turbine technology risk and construction risk. 

The scope also saw K2 Management assess long-term assumptions for operating costs and performance, as well as providing ongoing updates to our work as the deal progressed to a successful conclusion. 

Launched in November 2012, The UK Green Investment Bank was the first bank of its type in the world, created by the UK Government and capitalized with public funds. 

K2 Management

The key to successfully completing a full DD scope for such a large portfolio was quickly forming a close and efficient team with Macquarie’s key staff and working together, as well as providing advice and input critical to the evaluation of the GIB and its wind assets. Utilising a core DD team with prior practical experience of offshore wind development, construction and operation allowed K2 Management to quickly identify the key value drivers, and offer succinct and reliable advice whenever the client needed support.

Will Sheard
Global Manager, Due Diligence

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