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Diving into the offshore wind market with the right partner

Commercial offshore wind has been around since the turn of the century; first in the European North Sea and spreading into new markets over the years. Now we're seeing the rise on offshore wind in Asia and North America, as turbine sizes are growing to 10 MW +.

Founded in 2007 by two experienced people with expertise in offshore wind, K2 Management has been heavily involved in many milestone offshore wind projects globally. 

Take a look below to find out more about our involvement in the sector, and what we've been working on.

Helping clients build, finance & operate great offshore projects

Offshore wind - from planning to optimization

Wind is our background and it's where we intend our future to be. We deliver a wide range of services within engineering, planning, project management, and due diligence spanning the entire value chain of an offshore wind project from the earliest phase of development through to asset management and optimization. 

Owner's engineer makes projects bankable

Our experienced team has delivered owner's engineer roles on offshore wind projects across the globe.  Having a trusted owner's engineer on your side can make your project less risky and more bankable.  Share the benefit of our offshore experience by making us your owner's engineer.

Offshore wind goals

We know what our clients' goals are for their projects - to be completed on time and on budget to the right spec - so we make sure that's our ultimate goal too. This shared goal drives us to deliver and our involvement will bring value in the form of more profit, reduced risk, and time saved. 

Developing Deutsche Bucht

Delivering a full scope construction management role on the €1.2bn Deutsche Bucht offshore wind farm is no mean feat.

From procurement to construction management, risk and HSE, find out what we're doing on the project and what our client, Northland Power, thinks about our partnership.

Click on the video to play or find out more about our role here.

K2M Case Study - Deutsche Bucht Short_Vimeo 1080p HD

 

GET INSIGHTS INTO THE WIND INDUSTRY

Key trends for wind projects based on real project data

During K2 Management's assignments, common trends were identified, illustrating the industry’s growing appetite for both cost and risk reduction and performance improvement.

This report identifies key trends across both onshore and offshore wind projects based on real project data, delving deeper into how these trends may evolve, shaping future projects and wider industry advancement.

Download report

 

Military concept reduces risk in wind industry

Do you go to war without first planning and practicing your next move? The same question should be asked when developers are planning the development and construction of their projects.

An armed forces technique, Rehearsal of Concept (ROC drill), allow soldiers to rehearse battle plans in advance of the event. 

Find out how ROC drills can reduce risk on wind projects 

Read more

Clients and their offshore wind projects

Read how we support clients with full lifecycle offshore wind services in our case studies below

  • Offshore
  • Due Diligence
  • Construction
  • Lender's Technical Advisor

LTA and construction monitoring role for Triton Knoll

K2 Management’s assignment with Triton Knoll Offshore Wind Farm began in its early stages, where we delivered a full Lenders’ Technical Advisor...

K2 Management’s assignment with Triton Knoll Offshore Wind Farm began in its early stages, where we delivered a full Lenders’ Technical Advisor role for our client over a two-year period.

Commencing in the feasibility phase, our assignment supported the client through the UK CFD auction process and the mandating of lenders until financial close.

The duration of our involvement meant that bankability considerations were accounted for throughout the development process and this allowed us to mitigate risk at an early stage and ensure that the business case was bankable for the CFD process.

 

 The scope of the LTA role saw us advising lenders on:

  • Permitting and environmental
  • Technical design (civil, electrical, turbine, grid connection)
  • Project participants
  • Construction contracts
  • Technical aspects of the financial model
  • Review of risk management and contingency sizing.

 

Triton Knoll was successful in the CFD auction project in 2018 and soon after financial close was achieved, we were awarded the construction monitoring role on the circa. 860 MW project.

The four-year construction monitoring mandate delivers monitoring of permitting, design, manufacturing and construction activities as well as monitoring of project expenditure on behalf of a consortium of international lenders.

Julian Garnsey, Project Director of Triton Knoll, said: “We are delighted to reach financial close so soon after bank launch; engaging with K2 Management as technical advisor from the early stages has allowed us together to develop a bankable and well-considered project from the beginning.”

Will Sheard, Director, Due Diligence added: “The drive for reducing the levelized cost of energy demands innovative and boundary-pushing approaches to design, financing, contracting and construction methodologies.”

“Sufficient de-risking to support financing and early involvement as technical advisor, as we have delivered on Triton Knoll, will become more common place to secure a robust business case from the earliest stages and we are already seeing a demand for this approach in projects competing in the next CFD auction round.”

  • Offshore
  • Owner's engineer
  • Project management
  • Construction
  • Construction and installation

Deutsche Bucht | Developing Deutsche Bucht

K2 Management delivered full scope construction management on the €1.4bn Deutsche Bucht offshore wind farm in the German North Sea. 

Photo Credit: Northland Deutsche Bucht

K2 Management delivered full scope construction management on the €1.4bn Deutsche Bucht offshore wind farm in the German North Sea. 

After supporting Highland Group Holding as owner’s engineer and technical advisor since 2013. K2 Management was awarded a lump sum service agreement by Northland Power after it acquired the project in 2017.  

The assignment's scope saw K2 Management deliver full construction management services, from the pre-construction phase through to the Commercial Operation Date, planned for 2019. 

This two-year scope for Northland Power included: 

  • HSE and quality management 
  • Technical management of project agreements
  • Construction monitoring 
  • Management of integration, time and cost, contracts and risk 
  • Providing procurement and technical advice for the duration of the project.

 

Morten Melin, Executive Vice President, Construction at Northland Power commented:

“DeBu is a large offshore project; having a full-scope construction management provider will help to ensure its success. Northland Power has selected K2 Management for this role as a result of their extensive track-record, and their significant contribution to bringing the project to financial close.”

 

Hear from K2 Management and Northland Power on the Deutsche Bucht project in this video...

K2M Case Study - Deutsche Bucht Short_Vimeo 1080p HD
 

Our services for Highland Group Holding from 2013-17 included:

  • Wind energy and turbulence assessment
  • Scheduling
  • FEED study
  • Risk management
  • Interface management
  • Project structure development
  • Project organization development
  • Invitation to tender (ITT) structure development
  • ITT Management including employer’s requirements and annexes
  • Tender process management, including bid evaluation and contract negotiations
  • Foundation and substation design process management
  • Document management
  • Cost books management for all specified packages supporting financial advisor
  • Technical advisor on nacelle LiDAR based power curve measurements.

 

Hear what Northland Power's Boris Balan has to say about working with K2 Management: 

 

  • Onshore
  • Offshore
  • Due Diligence

Macquarie | Technical due diligence on acquisition of Green Investment Bank

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...

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. 

Will Sheard, Global Manager, Due Diligence at K2 Management, said: “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.”

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. 

  • Offshore
  • Due Diligence

Hohe See | 500 MW German offshore wind project

For our long-term client EnBW, Energie Baden-Württemberg AG, K2 Management supported the German utility with independent technical and commercial...

Photo Credit: Siemens Wind Power

For our long-term client EnBW, Energie Baden-Württemberg AG, K2 Management supported the German utility with independent technical and commercial advice and review of the main contracts of the upcoming 500 MW EnBW Hohe See offshore wind project.

K2 Management is currently undertaking comprehensive due diligence for the project, located in the German North Sea, as part of its first full lenders’ technical advisor role for an offshore wind project.

Having successfully completed the initial bankability review, our team is now focusing on detail on the key technical, commercial, construction, environmental and operational aspects of the project. The first key milestone in our assignment will be finalization of the Bank Launch Report, which will play a central role in giving potential lenders the confidence to become part of the project’s financing process. K2 Management will then support lenders through finalization of the due diligence process in parallel with assisting with the ongoing de-risking of the project, which is already employing a number of strategies to improve bankability and cost certainty.

Will Sheard, Global Manager, Due Diligence at K2 Management, explains:

“K2 Management has become one of a very small number of wind consultancies to be accepted as lenders’ technical advisor services for offshore wind financing. Our experience from more than half of the world’s offshore wind projects either on the owner or lender side, give us a strong combination of offshore wind project delivery and due diligence expertise.

"We are pleased to support EnBW and the project financing process for EnBW Hohe See, and it has been rewarding to see K2 Management accepted by major banks and investors for the provision of the most demanding type of technical due diligence role.

"Since commencing our work on EnBW Hohe See we have successfully won several other LTA mandates, demonstrating clear confidence in our capabilities to support projects through to, and past, financial close.”

We bring value to our customers

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% independence Independent advice delivered on every project
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successful projects We have a track record of 1900+ successful projects
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countries We deliver services on wind, solar PV and wave & tidal projects in 40+ countries globally
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offshore projects We have consulted on 330+ offshore wind projects globally
"K2 Management really makes you grow"

“We are pleased to have K2 Management on our side supporting us with wind analysis and CFD services. K2 Management’s expertise in analyzing wind speed shifting behavior from onshore to offshore site provided us with an optimized, cost-effective solution in the measurement campaigns.

K2 Management’s support has been instrumental in the planning process for development of the offshore wind farm.”,

Mr. Y. U. Chung | SK E&C

"Bringing Deutsche Bucht to financial close"

"Northland Power has selected K2 Management for this role [full-scope construction management provider] as a result of their extensive track-record, and their significant contribution to bringing the project to financial close."

Morten Melin | Executive Vice President, Construction |Northland Power

"K2 Management was invaluable in this acquisition"

“K2 Management’s technical advice, financial insight and operational performance expertise was invaluable to us in this acquisition.”

ITOCHU Corporation

"Delivering offshore wind project management to Taiwan"

“The K2 Management team has very high professional competence in project management of offshore wind power projects. That is why we established a very strong relationship with them.”

Robert Tsai | Chairman | Formosa Wind Power Co. Ltd.

""The quality of the team [has been] outstanding.""

“K2 Management has really provided invaluable contribution to our projects in a way we never would have been able to organize. The quality of the team and the organization around it has been outstanding.”

Albert Jochems | Investment Director | Highland Group Holdings Ltd.

"Benefiting from global expertise and vast wind experience"

We are delighted to appoint K2 Management in this role and will look forward to benefiting from their global expertise and vast wind experience."

Olivier Duguet | CEO | The Blue Circle

"Energy yield assessment for due diligence"

"The energy yield assessment completed for the project financing...was quickly and efficiently supplied, and passed through the lender due diligence process with no material issues raised.”

Steve Williams, Senior Project Manager, Banks Renewables

""The CFD results were invaluable in our decision...""

“The supplied CFD modelling results were invaluable in our decision making process. Results and applied methods were clearly and concisely explained, allowing us, as developers, to put them to best possible use.”

Richard Seymour | Senior Project Manager | Infinergy

"Hands on experience and insights for great investments"

“Their hands-on experience and insights have given us the necessary comfort for investing and de-risking areas of concern,”

LI You | Investment Director | CGNEE

"Helping to grow John Laing's industry presence"

“We are delighted to have K2 Management on our side to help grow John Laing’s presence in the renewable energy sector.”

Edward Thompson | Commercial Director, Renewable Energy | John Laing

"A practical approach to problem solving for clients"

“K2 Management has a long proven track record and thereby a practical approach for finding solutions for its clients. We honor this way of working and are looking forward to be working with K2 Management again,“

Mikko Toivanen | COO and Co-founder | Ilmatar

""They really have our interests and problems in mind...""

“What I like about K2 Management is that they really have our interest and problems in mind [when] addressing technical issues. They don’t waste my time and they don’t spend too much time, they just come to me with the problem and the solution, and that is what I like.”

Bastian Schachtner | Director, Structured Finance Office | MUFG

""The team was thorough in its approach to this analysis...""

“The team was thorough in its approach to this analysis. It is clear they have an in-depth understanding of solar technology and yield analysis.”

Mirjam Tome | Project Development Engineer | RATCH Australia Corporation

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