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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!

De-risking investments with advisory services

We want our clients to have the best business cases so de-risking projects from the outset is important. Take a look below to see some of the ways that we support support lenders, investors and developers with our expert advisory: 

Detailed due diligence

Undertaking due diligence in the early stages of your project is essential to ensure your business case is robust before striking the first blow. Our experts combine technical and commercial elements of due diligence, wrapped up in extensive industry experience. 

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Yield analysis

Accurate yield estimations are an essential part of advisory services 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. 

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Optimizing project finance

The right financing model is essential when planning and executing a successful wind or solar project. We advise on project finance structure, financial modeling, capital raising, debt and equity finance, sale and purchase of assets and refinancing.

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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

Clients and projects

Helping clients to get the best from their investments

  • Offshore
  • Due Diligence

Advising ESB in 50% stake in Neart Na Gaoithe

ESB appointed K2 Management to support them in acquiring a 50% stake in the 448 MW Neart Na Gaoithe offshore wind farm.

ESB appointed K2 Management to support them in acquiring a 50% stake in the 448 MW Neart Na Gaoithe offshore wind farm.

In ESB’s largest stake acquisition in a UK offshore project to date, K2M delivered full scope acquisition technical due diligence, supporting the transaction to financial close.

The scope included analysis of the project’s design, construction contracts and methodology as well as energy yield and cost assumptions and planned operation and maintenance strategy.

Gary Connolly, Offshore Wind Development Manager at ESB, said: “This project is the first time that ESB is taking full construction risk on an offshore wind project and the levels of comfort given by K2 Management’s extensive technical due diligence has enabled us to build a strong business case whilst understanding the key risks."

"The flexibility and responsiveness that K2 Management delivered added significant value when preparing a time-constrained bid.”

Neart Na Gaoithe, now jointly owned 50% by ESB and 50% by EDF Renewables UK, will begin construction in Q1 2020 with an expected operational date of Q1 2023.

  • 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.”

  • 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.

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