Macquarie’s Green Investment Group (GIG) this week increased its interest in the 210 MW Westermost Rough with technical due diligence support from renewables consultancy, K2 Management.
Green Investment Group Limited (GIG), the specialist green energy principal investment business of Macquarie Group Limited (Macquarie), this week acquired a 25% stake in the 210 MW Westermost Rough offshore wind farm from Mabubeni with technical due diligence support from renewables consultancy, K2 Management.
The consultancy undertook a review of the key financial model assumptions and value drivers for the project, reviewing O&M arrangements, operations reports and the financial model for this specific transaction. A full due diligence report was also completed based on updated and new project information, beyond what was explored in the initial investment.
K2 Management also worked with Macquarie Capital on their investment in the Westermost Rough project, as part of the Green Investment Bank portfolio acquisition.
Senior consultant for K2 Management, Steve Hall, commented: “We have supported Green Investment Group in several transactions to date and we are delighted to support them again in expanding their portfolio of renewable energy investments.”
GIG is also part of a larger consortium that already owns a 25% interest in the project.