DNV GL Assists John Laing in Horath Onshore Wind Farm
DNV GL, the world largest resource of independent energy experts, has assisted John Laing, a leading international originator, investor and manager of infrastructure projects, in its investment in the onshore wind farm Horath Wind Farm in Germany.
DNV GL conducted technical due diligence on the new asset with a focus on verifying its estimated energy yield. The work follows on from a long collaboration between the two companies, including DNV GL’s due diligence support work for John Laing’s recent acquisition of the 89.1 MW Klettwitz Wind Farm, one of Germany’s largest onshore wind farms.
The Horath Wind Farm is located in the Rhineland-Palatinate area of south-western Germany. Situated in a forested area on mountainous terrain, the wind farm comprises nine Vestas V112-3.3 MW turbines with a hub height of 140 m, together with associated infrastructure.
Construction was completed at the end of September 2016. The project is expected to be fully commissioned in the fourth quarter of 2016 and will benefit from a 20 year feed in tariff.
Reasonably stable and predictable and thus offering comparatively low risk, the lucrative German renewables market attracts a variety of organizations. International and local companies, and established and new players, are keen to invest in wind farm assets.
“Before we invest, it is essential we have the unbiased technical assessment from an independent partner to reveal any risks and future costs. In carrying out due diligence on Horath, DNV GL helped our decision making including a detailed review of its estimated energy yield. Their global experience and excellent local expertise makes DNV GL a trusted partner for us to work with,” said John Stephens, Senior Investment Manager at John Laing.
“This is John Laing's third wind farm investment in Germany, all within one year, and each time we acted as technical advisor. Based on our history of successful projects developments, we are also supporting them with wind farm transactions in other international markets and are looking forward to continuing our working relationship,” added Andreas Schröter, Executive Vice President Central Europe & Mediterranean at DNV GL - Energy.
