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Finding value in onshore wind

The onshore wind markets in  many geographies are mature and capacity is higher than it ever has been across the globe. However, the market continues to evolve to support local energy requirements, political agendas and the economic situation of countries. 

K2 Management, founded in 2007, has supported onshore wind projects from early stage feasibility and market studies, through construction all the way to operations and optimization of assets. We add value to developers, lenders and investors by utilizing our deep wind knowledge and experience to give insights that deliver value to our clients. 

What makes good wind analysis?

Hear from our team of senior analysts and from our clients to find out what makes good, bankable and reliable wind analysis!

The video touches on the importance of CFD analysis on complex sites and discusses the most important elements of analysis on wind projects globally. 

Click on the video to get our insights -->

How do we support our onshore wind clients?

Supporting developers, investors and lenders in the onshore wind sector is our bread and butter, driving projects from feasibility to operations. Find out about our key services below:

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OWNER'S ENGINEER

Bring in the specialists - Appointing an experienced owner's engineer gives developers specialist guidance throughout the development and construction phases of their onshore wind projects, all the way through to commissioning. 

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DEVELOPMENT

Get a technically well designed project by putting the time in during the early phase of development. From selecting the right contracting strategy to getting the most suitable contractors, these crucial decisions can significantly impact how your project turns out. That's why engaging specialists is so important.

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DUE DILIGENCE

We carefully evaluate risks and provide technical advice to our clients as technical advisor to lenders, investors and developers to make sure that every transaction is technically and commercially sound.

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ANALYSIS

Bankability is key when developing or financing an onshore wind project and our analysts apply technical scrutiny to projects to make sure that you don't get the numbers that you want, you get the numbers that are accurate. 

A day in the life working in onshore wind...

Take a look at some of the sights and sites that we encounter during our work for developers, lenders and investors in onshore wind.

Clients and their wind projects

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

  • Owner's engineer
  • Due Diligence
  • Onshore wind
  • contact-will-sheard

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...

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.

K2 Management conducted a detailed red flag review to understand the status of land leases, permits and crucial agreements. 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 and a review of the financial model and cost assumptions. Specialist analysts also reviewed the expected technical losses proposed in the energy yield assessment.

Martin Oeschger, Transaction Manager at ewz, commented: “We appointed K2 Management due to their technical competence and experience in onshore wind in Europe. The team was very responsive and delivered a thorough review, helping us to have a clear view and to reduce technical risks, resulting in a successful acquisition for ewz.”

Jochen Gassert, Senior Due Diligence Consultant at K2 Management said: “We are delighted to have supported ewz in another successful acquisition, supporting them in expanding their wind and sustainable energy portfolio. Following this successful role, we have since been appointed as owner’s engineer on Stigafjellet wind farm and we will continue to work closely with the client towards a successful operational asset.”

K2 Management’s scope as owner’s engineer includes review of the electrical and civil design of the wind farm, fabrication and on-site quality inspections, construction monitoring and regular visual inspections, participation on BoP and WTG testing, commissioning and taking over procedures, review of as-built documentation and ad-hoc technical support. The project is entering the construction phase in early 2019 and is expected to be fully operational in Summer 2020.

  • Onshore
  • Asset Management

Asset Management,Danish wind farm | Technical due diligence turbine inspection

Appointed Encavis in early 2018, K2 Management was tasked with a wind turbine inspection as part of a wider technical due diligence review.

Appointed Encavis in early 2018, K2 Management was tasked with a wind turbine inspection as part of a wider technical due diligence review.

We performed a full inspection on eight 3.3MW Vestas wind turbines on the Nørhede Wind Farm in Denmark including gearbox endoscope inspection, to ensure that the turbines were safe and suitable for operation.

The review included inspection of:

  • Foundations
  • Electrical system
  • Safety equipment
  • Tower
  • Hub and pitch system
  • Yaw system
  • Hydraulic system
  • Blades
  • Gearbox including video endoscopy.

Ingo Ermel, Investment Manager at Encavis said: “We engaged K2 Management for this scope due to their significant experience across the wind sector, and we were particularly pleased with their detailed and timely delivery of their turbine inspection reports. The team’s in-depth support gave us a complete picture of the technological aspects of the site as part of our acquisition.”

Global head of Asset Management at K2 Management, Carsten Brinck, said: “The accuracy of wind turbine inspection during a proposed acquisition can mean the difference between mediocre turbine performance and performance that can be optimized into a fantastic business case. Knowledge is power, and we were happy to support Encavis with asset management support during this acquisition.”

  • Onshore
  • Asset Management

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...

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.

The portfolio, based across Latin America, comprises four operational wind farms totaling almost 600 MW and almost 350 GE turbines.

K2 Management’s scope of work was to support the transition from a basic O&M set up to a full service scope so the team undertook an extensive review of the portfolio and its operational requirements.

This included:

  • Benchmark and assessment
  • Contract review
  • Contract negotiation support
  • O&M setup evaluation.

 

Tiago S. Dias, Vice President Renewables - Performance Management at Contour Global said: “K2 Management’s support in this transition was invaluable thanks to their detailed understanding of our O&M requirements and their extensive knowledge of the operational complexities of onshore wind farms.”

Global Head of Asset Management at K2 Management, Carsten Brinck commented: “Supporting Contour Global in obtaining and setting up the best operations and maintenance strategy for its wind portfolio was a pleasure for the team. With our knowledge of Latin American wind and global wind domain knowledge we were able to bridge global best practice to get the best set up for this portfolio in Brazil.”

 

  • Onshore
  • Engineering
  • Construction
  • Construction and installation

Supporting Dam Nai, Vietnam to completion

The first foreign-owned wind farm in Vietnam, Dam Nai, has achieved successful completion, becoming commercially operational in early 2019. The...

The first foreign-owned wind farm in Vietnam, Dam Nai, has achieved successful completion, becoming commercially operational in early 2019. The project was developed in two phases using a multi-contracting strategy, split into three main contracts - turbine supply, civils, and substation.

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Appointed as owner’s engineer and responsible for project and construction management, K2 Management is proud to have created significant value for both clients and stakeholders.

The project, which is now in the operation and maintenance phase, comprises of 15 2.625MW Siemens Gamesa wind turbines, constructed across two project phases. The first phase, 7.875 MW, was completed in 2017/8 with the second phase becoming operational early 2019. The project has been developed by TSV and The Blue Circle with the sponsorship of Armstrong Asset Management. BIDV, a Vietnamese bank, participated in the financing of the project.

 

Turning challenges into opportunities

The project was not without its challenges - tight time constraints and integrating a high number of local workforces from different contractors made for a more complex challenge, heightened by the fact that Vietnam is a relatively new market for wind energy projects.

However, attributing the right expertise to deliver the owner’s engineer, project management, construction management and strong back-office engineering, meant the project was in good hands. The client did a fantastic job, developing this project in a particularly challenging environment. Daily collaboration between the client’s development team and K2 Management’s team made this project not only feasible but also a success story in the region.

Our scope

The project management role delivered support from the early stages of development through take over, including contractor evaluation and selection, contract drafting and negotiation, insurance management, project reporting, interface and contract management and regular progress monitoring.

With a full owner’s engineer scope (Civil, Electrical, and WTGs), K2 Management undertook a design review, site inspection of the entire balance of plant, particularly around critical milestones, and wind turbine and substation activities from factory inspections through final commissioning. The team also delivered ad-hoc support for urgent engineering issues using input from our site team.

In emerging markets like Vietnam common issues can arise, such as an immature or sometimes non-existent supply chain and inadequate infrastructure. These are not insurmountable problems and being able to flex and adapt to conditions and utilize what is available locally was a part of our Owner’s Engineer scope. This approach enabled us to both mitigate risks for the client but also to comply with local content regulations and maintain a robust business case.

The construction team collaborated closely with the developer on construction activities, contractor management, health and safety issues, construction quality, project documentation and planning to secure contract, timeline and budget compliance.

Celebrating project successes!

Having a good team was not the only thing key to the success of the project - communication also played an integral part. Our construction team consisted of both international and local staff, where an international mindset, experience and practices met with hands-on local knowledge. The team’s diversity ensured that compliance with local regulation and practices were met, while still maintaining an international standard of work.

Health, Safety and Environment (HSE) is inherent in everything we do at K2 Management, and we know that a generic HSE plan will not fit every project. The HSE plan created for Dam Nai was customized to suit the individual elements of the project while considering the local market to ensure that those working on the project were fully engaged, all the while complying with international best practice. By following this detailed and bespoke plan, no accidents were reported across more than 600,000 manhours on-the site during the last two years.

Edward Douglas, Partner at Armstrong Asset Management commented: “K2 Management has an excellent reputation in the region and brought the level of expertise and guidance required to successfully commission this project. Using their vast experience on energy projects combined with local knowledge and insight into how to get construction right, we are proud to see Dam Nai operational.”

“Armstrong has a mandate to invest in renewable energy projects in Asia, and the completion of Dam Nai will contribute to our energy development goals in Vietnam.”

Patrick Architta, Business Development Director at K2 Management, stated: “We were delighted to be appointed again in this role for Dam Nai and are proud to have seen this project through from the development phase to completion. With a mix of local professionals and international experts from across the energy sector, we had a strong team in place and this is reflected in the completion of this flagship wind project for Vietnam.”

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