K2 Management has been appointed by Triton Knoll Offshore Wind Farm Ltd, to deliver an independent technical and commercial advisory mandate for the up to 860MW UK project.
Triton Knoll is one of three projects which were successful in the September 2017 UK Government Contract for Difference auction, marking it as one of the best ‘low cost’ offshore wind farms in UK waters.
K2 Management began work on the project in 2016, to carry out review and analysis of the wind farm, in order to demonstrate the overall feasibility of the project.
The scope of work will see K2 Management review and analyse project participants; design; construction; supply chain; installation and weather risk; grid connection; O&M strategy; permitting and approvals; environmental and social impact and quality, health and safety management.
The remainder of the scope will see K2 Management continuing to provide support to the project as it progresses towards Financial Investment Decision.
Will Sheard, Global Manager, due diligence at K2 Management , said: “With fewer UK projects going through auction rounds, innovative and boundary-pushing projects are essential to continue moving the industry in the right direction, particularly given the slow movement of the UK wind market at the moment.”
“Working on the Triton Knoll project, set to be one of the largest offshore wind developments in the world, is an excellent opportunity to review, identify and mitigate risks with the project.”
Triton Knoll is an offshore wind project with a planned installed capacity of 860 megawatts with a planned investment volume of approximately £2 billion (around €2.2 billion at the current exchange rate).
The project is now progressing towards a financial investment decision with full offshore construction expected to commence in 2020. First energy generation is expected in 2021.