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Practical knowledge and focused advice 

Renewable energy investment is now mainstream; the ongoing global growth of the wind power sector requires substantial ongoing investment from the international financial community and support from the insurance sector, bringing long term opportunities for many different players.

However, despite the continued successful growth of onshore and offshore wind, success cannot be taken for granted and project risks still require careful evaluation in order to ensure expectations are met.

Watch this video to find out what our clients and consultants think makes a good technical advisor!

Global experts in techno-commercial advice

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Our experts have advised clients on projects around the world, from onshore wind in SE Asia to some of the world’s largest offshore wind projects. With hands-on experience covering the full project life cycle, we bring practical, value-adding advice regardless of the stage of development or operation of your investment.

After successfully investing in your project, our construction and asset management experts can then directly support all further stages of the project’s life, to ensure ongoing technical expertise is available to you whenever it’s needed.

Our Key Services

Our specialists have advised clients on projects around the world, from onshore wind in SE Asia to some of the world’s largest offshore wind projects. With hands-on experience covering the full project life cycle, we bring practical, value-adding advice regardless of the stage of development or operation of your investment.

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MITIGATING CONSTRUCTION RISKS

We identify and mitigate construction risks, such as ground risk, interface risk, permit compliance, foundation and WTG installation, construction schedule confidence. Our focus is to improve the project itself as the most reliable way of reducing completion, cost and operating risks.

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CHALLENGING RESOURCE ASSUMPTIONS

We undertake detailed review of wind energy forecasts, looking at reliability and appropriateness of measurement methods used, and if realistic assumptions have been used for uncertainties and technical loss factors.

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GETTING THE DETAILS RIGHT

We ensure a detailed review of key project agreements and contracts is undertaken to mitigate technical, schedule or cost risks that cannot be designed out. We assess the details including project cost estimates, and long term operating and maintenance needs to support project performance targets.

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A TECHNO-COMMERCIAL FOCUS

With a unique techno-commercial focus, we undertake a review of bankability issues, technology and performance risk and advise on how best to mitigate issues through improving the technical and commercial aspects of the project.

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SAFETY FIRST 

We assess and give support with HSE management and compliance to ensure safe completion and operation of the project and having these plans in place during early stage due diligence can give confidence to investors and banks.

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ASSESSING STAKEHOLDERS

Review of stakeholder and counterparty capabilities and track record will give you comfort in terms of reliability and experience.

ACQUISITION ADVICE

Acquisition of projects that have already been constructed requires detailed investigation of the quality of equipment, operational performance, and maintenance records.

K2 Management acts as owner’s, buyer’s or lender’s engineer and has provided acquisition due diligence support to both onshore wind farms and some of the largest offshore wind projects in Europe. We have established a strong reputation for our practical knowledge and bankable due diligence reports.

Our specialists understand that targeted and focused due diligence investigations are a critical element of the pre and post construction acquisitions process and our commercial due diligence services can support delivery of a robust project.

Specialist technical due diligence support will help to reduce uncertainties and enable risks to be managed, ensuring that investment and insurance decisions are made from an informed position.

TAILOR MADE DILIGENCE

From initial red flag review, detailed technical due diligence and support during negotiations, construction and operation of the project, our international team of due diligence experts, supported by technology specialists, can provide tailored and flexible support, regardless of the stage, location or size of your projects.

Investment decisions should be based on a thorough risk analysis of the planned development strategy, the capability of selected contractors, and the robustness of the operational methods and schedules.

Acquisition of projects that have already been constructed also requires detailed investigation of the quality of equipment, operational performance maintenance records and power performance.

Wind trends - Get our insights!

Get our insight into the latest financial and technical trends across both onshore and offshore wind projects based on real project data taken from K2 Management’s recent due diligence assignments.

It delves deeper into how these trends may evolve, shaping future projects and wider industry advancement and how these are looking to reduce the levelised cost of energy.

Get the latest technical and commercial trends in our report

Download report

How we support clients

We want clients to have the best business cases so we perform detailed, thorough due diligence on projects.

Take a look below to see some of the ways that we support our clients: 

Expert technical advisory

No matter how experienced you are, every energy project is unique and having the right set of advisors on board for finance, insurance, tax and technical support goes a long way.

Learn more about what makes a good technical advisor!

Find out more

Yield analysis

Accurate yield estimations are essential in due diligence for lending to, investing in or selling a wind or solar PV project.

Using advanced techniques and analysis processes, we create bankable energy yield estimations to build strong and robust business cases for our clients. 

Read more

Global market insights

Our work covers the whole value chain of both wind and solar projects across the globe which gives us a great insight into the latest markets. 

We deliver valuable advice and insights to our clients on a wide range of topics, based on our own experience on projects. Download our wind trends report to see the insight that we offer to our clients. 

Download report

Clients and Projects

Helping clients to get the best from their investments

  • Onshore
  • Due Diligence

i Squared Capital | Technical evaluation of onshore wind portfolio

Rapid technical evaluation for acquisition of Viridian's 225 MW onshore Irish wind farm portfolio, we undertook site inspections, identified...

Photo Credit: i Squared Capital

Rapid technical evaluation for acquisition of Viridian's 225 MW onshore Irish wind farm portfolio, we undertook site inspections, identified missing documents and provided a summery report for each project,

Having reviewed energy yield estimates undertaken by our US team during the acquisition of a US  developer, the client approached us to provide technical due diligence to support their bid to buy a 225 MW portfolio of operational and consented wind farms in Ireland.

We were asked to review the contents of the data room, identify missing documentation and provide a risk register and revised P50s for four operational and six construction projects by their seven day Phase 1 deadline.

Over the following fortnight, we attended a Vendor management presentation, undertook site inspections and provided a summary report for each project quantifying key risks and identifying
value drivers.

Throughout the process we worked interactively with the client’s in-house  investment team and financial (Credit Suisse), legal (Kirkland Ellis) and energy market (Frontier Economics) advisors to provide accurate financial model inputs in an efficient and timely manner to meet the bid deadline.

Our experienced team was able to reassure the client as to the comprehensiveness of capex and opex budgets and to assess the risk of the construction projects failing to accredit by the ROC and ReFIT deadlines.

To this end when the site visit itinerary was presented by Evercore, the Vendor’s advisor, we requested and were permitted to undertake additional construction site inspections to be able to obtain the necessary assurance.

  • Onshore
  • Due Diligence

Alta Sertao II - Brazilian portfolio |  Acquisition due diligence

AES Tietê Energia has acquired the 386 MW Alto Sertão II wind portfolio in Brazil for R$600m ($193m USD), with technical due diligence support...

AES Tietê Energia has acquired the 386 MW Alto Sertão II wind portfolio in Brazil for R$600m ($193m USD), with technical due diligence support from K2 Management and TNEI.

K2 Management’s specialists delivered technical due diligence advice across the entire portfolio including a review of the turbine and balance of plant (BoP) technology and performance, an energy yield assessment report review, civil, grid and electrical design review and a technical review of the O&M contracts. The team also provided an independent energy yield assessment based on production data for the portfolio.

TNEI, a specialist energy consultant, supported K2 Management on this project, with the delivery of a technical due diligence review focused on grid connection arrangement, electrical design and installation, local transmission infrastructure and generation restrictions.

For Ítalo Freitas, President of AES Tietê Energia: “This project marks an important acquisition in the company’s drive towards diversifying our energy portfolio and achieving our growth goals by 2020. K2 Management’s technical advice was important in identifying commercial opportunities and risks throughout the process.”

K2 Management’s Latin America Managing Director, Hebert A. M. Nascimento, commented: “Our technical and commercial expertise was fully utilized in this extensive project, adding value to AES Tietê Energia’s acquisition."

"Our reporting and advice was underpinned by a sound understanding of the region, its wind resource and the portfolio’s potential and we’re pleased that the client’s goal of a successful transaction was achieved.”

Managing Director at TNEI, Rachel Hodges commented “We were extremely pleased to be involved in such an interesting project, which highlighted the importance of a thorough and robust due diligence process."

"Our specialist electrical knowledge and extensive experience complemented K2’s expertise, helping the client achieve a successful transaction completion. The project was our first experience in the Brazilian market and has helped expand our international portfolio.”

The 230-turbine portfolio is spread across 15 sites in the Bahia region of Brazil and this acquisition represents a positive move in the Brazilian energy market, given the uncertainty surrounding the cancellation of the energy auction late last year.

  • 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. 

Simon Luby, Head of Global 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

Butendiek | Butendiek equity transaction complete

With a long history of involvement in Butendiek, K2 Management supported ITOCHU Corporation in its 22.5% equity interest investment into the 288...

Photo Credit: Butendiek

With a long history of involvement in Butendiek, K2 Management supported ITOCHU Corporation in its 22.5% equity interest investment into the 288 MW wind farm – ITOCHU's first investment in European offshore wind.

K2 Management provided technical and wind due diligence on the transaction, focusing on performance and technology, project life and long-term OpEx and O&M strategy.   

ITOCHU Corporation, commented: “This project represents ITOCHU Corporation’s first European offshore wind investment and K2 Management’s technical advice, financial insight and operational performance expertise was invaluable to us in this acquisition.”

Simon Luby, Head of Global Due Diligence at K2 Management, said: “Working with ITOCHU Corporation on this transaction was a pleasure and our close working relationship is one of the key drivers of success for all the work we deliver for ITOCHU. 

“Our core team consisted of experts with real hands-on offshore wind experience covering development, construction and operation of such projects – that experience enables us to deliver much more focused, value-adding supporting within the often short timescales of these transactions. It was great to work on this project again, as I led the lender’s technical advisor assignment for Butendiek when it secured debt finance prior to its construction.”

Simon Luby

Talk due diligence with Simon

"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