Octopus Energy Investments and Valorem have appointed K2 Management to support the execution of two onshore wind projects totalling over 70MW in Finland.
The appointment as owner’s engineer and employer’s representative follows on from acquisition due diligence work by K2 earlier this year.
The new scope of work includes design review of civil, electrical and turbines, quality management review, health and safety management review, factory inspections and audits, documentation review and specialist inspections of works, delivery, milestones and final inspection prior to takeover.
Valrea, the construction subsidiary of Valorem, will oversee the project and construction management services.
The 33.6MW Saunamaa and 37.8MW Suolakangas wind farms will be use eight and nine Vestas V150 4.2 MW turbines respectively.
Both projects are expected to enter the construction phase in 2019 with commissioning expected to be complete in late 2020.
Watson Farley & Williams advised Valorem on the acquisition of a majority stake by Octopus Energy Investments in Saunamaaa and Suolakangas.
Specially, the firm advised Valorem on the drafting and negotiation of the Share Purchase Agreement and Shareholders’ Agreements, legal due diligence and the review of the project contracts.
Valorem developed the two wind farms together with local partner Megatuuli.
It will continue to manage and operate them going forward via its subsidiaries Valrea and Valrea respectively, the latter also in collaboration with Megatuuli.