SgurrEnergy announces the enhancement of the company’s strong working relationships with KfW IPEX-Bank, UniCredit Bank and other leading European project and export finance banks, by winning a new construction monitoring contract for Germany’s first project financed offshore wind farm, Borkum West II Offshore Wind Farm, a development by Trianel Windkraftwerk Borkum GmbH.
This latest appointment is one of many recent success stories for SgurrEnergy within the offshore wind industry, and builds on the Company’s extensive onshore track record to establish SgurrEnergy as one of the world leaders for technical advisor services to lenders and investors, in the challenging offshore wind sector.
The new large scale contract with the Borkum West II Offshore Wind Farm was managed by SgurrEnergy’s in-house due diligence experts and, will be for a two-year period, covering the construction and commissioning phase.
The company will also advise the Lenders on the project’s performance during the first five years of operation. Work on the development is scheduled to begin in October.
As technical advisor to the project during the pre-financial close phase, SgurrEnergy, supported by Intertek-Metoc, provided a wide range of services to the Lenders including appraisal of the technical project design, engineering and construction contracts, vendor acceptance testing and a review of wind turbine and balance of plant equipment suppliers. Energy yield verification was also conducted as part of the pre-financial close technical advisor role, along with a review of operational data and wind turbine performance at existing sites.
Their experts on project economics also provided commentary on the CAPEX and OPEX models and made appropriate recommendations regarding the sizing of the contingency and maintenance reserve accounts.
All phases of this project have been led by SgurrEnergy’s due diligence specialists and supported in-house by their team of multi-disciplinary engineers and wind analysis specialists. Having expert multi-lingual staff providing technical advisory services is one of their key strengths in the international financial market. This new contract enhances their global track record in providing advisory services to the worldwide renewables market.
( sgurrenergy )
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Source: sgurrenergy, June 08, 2011; Image: alpha-ventus, August 07, 2009