K2 Management has been appointed as lender’s technical advisor on Equinor’s Creyke Beck A and B offshore wind farms, two of the three projects making up the 3600MW Dogger Bank development off the east coast of England.
The consultancy will support the two projects, which are 1.2GW apiece, as they progress to a financial investment decision (FID) sometime in 2020.
In September, Creyke Beck A and B and Dogger Bank Teesside A were selected in the Contracts for Difference allocation round three by the UK government.
Dogger Bank finance director Olly Cass said: “We appointed K2 Management because of their expertise in due diligence, understanding of banks’ requirements and extensive track record in global offshore wind projects and will look forward to working together on this ground-breaking project.
“We are looking forward to taking these projects through a successful final investment decision with the shareholders and then to financial close.”
K2 Management senior consultant Steve Hall added: “We are delighted be appointed as LTA on two of the Dogger Bank projects and will look forward to supporting them through the financing process.
“Auction prices demonstrate the progress that offshore wind has made in cost reduction and the maturity of the UK market, and we look forward in aiding lenders in making their analyses of these exciting projects.”
Last month Equinor and SSE selected GE’s 12MW Haliade-X as the preferred turbine model for Teesside A and the Dogger Bank Creyke Beck A and B developments.