Consultancy K2 Management led technical due diligence for Macquarie during the Australian bank’s £2.3bn acquisition of the UK’s Green Investment Bank (GIB).
K2 said its 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 consultancy said.
K2 also assessed long-term assumptions for operating costs and performance.
K2 Management head of global due diligence Simon Luby 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.”
Image: GIB is an investor in the under-construction Rampion offshore wind farm (Eon)
K2 shoulder to Macquarie wheel
Consultancy provides technical due diligence on Green Bank acquisition
By EBS