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Prajeev Rasiah News

09 Jun 2019

Europe Invests in African Renewable Energy

The provider of testing and advisory services to the energy value chain including renewables and energy management, DNV GL has joined European signatories including ABB, EDP Renewables, Enel Green Power, Ge Renewable Energy, Pöyry, Prysmian, PwC, Siemens Gamesa and Vestas."DNV GL has signed a ‘declaration of intent’ to commit its interest and participation to the initiative renewAfrica, aimed at boosting renewable energy investments in Africa, alongside leading players in the African and European renewable energy market," said a statement.The renewAfrica launch event was hosted by RES4Africa and reflects the need for a strong joint effort…

28 Sep 2018

DNV GL Completes Due Diligence of World’s Largest Offshore Wind Farm

DNV GL has successfully completed a lenders’ technical due diligence on Ørsted’s Hornsea Project One, the world’s largest offshore wind farm with a total capacity of 1.2 GW.The project, which is currently under construction, consists of 174 7 MW Siemens Gamesa wind turbines and is located 100 km offshore, making it the furthest offshore wind farm in the UK. The exceptional distance is made possible by an innovative electrical transmission system using the world’s first offshore reactive power compensation mid-station, enabling power to be transmitted 100 km to shore.Working in close collaboration with Ørsted and the lenders, legal, financial and insurance advisors…

14 Sep 2018

DNV GL Pact with WeatherTech on Wind Turbines

DNV GL, the world’s largest resource of independent energy experts and certification body, today announced that it has joined forces with Swedish atmospheric science experts, WeatherTech.The combined expertise of both companies will enable the development of the most advanced icing model for wind turbines available on the market, allowing customers to better predict the performance of turbines in cold climates.In cold climates, the performance of wind turbines is significantly reduced by ice accretion, the gradual build-up of ice on the turbine blades. The impact of ice on turbine performance is a major challenge for developing and operating wind farms in cold climates…

06 Aug 2018

DNV GL Provides Tech Support for 3 Norwegian Wind Farms

DNV GL, the world’s largest resource of independent energy experts and certification body, today announced that the company’s technical expertise was an important part of the due diligence of the Bjerkreim cluster, a 294-megawatt group of wind farms in Norway.The German asset manager for renewable energy investments Luxcara recently entered long-term Power Purchase Agreements (PPAs) for 100% of the output and environmental attributes of the three contiguous wind projects.Working alongside Norwegian developer Norsk Vind Energi and the owner and long-term operator of the wind farms Luxcara, DNV GL’s experts conducted technical due diligence of the projects to identify and mitigate against technical and financial project risks…

31 May 2018

DNV GL Completes Due Diligence of Dutch Windpark Spui

DNV GL, the world’s largest resource of independent energy experts and certification body, has successfully completed comprehensive due diligence of the Dutch Windpark Spui, for a group of lenders who are providing the debt financing for the project. The power generated at Windpark Spui, which will supply renewable electricity to more than 24,000 households, will be sold to Eneco Group, a Dutch sustainable energy company, under a 16-year power purchase agreement. Eurus Energy, a leading Japanese renewable energy company, acquired the project from YARD, a Dutch-based developer of wind energy projects, and its co-developer prior to financial close. “We’d like to congratulate all the parties involved on this momentous achievement.

10 Apr 2018

DNV GL Advises on Acquisition of UK's Wind Farm

DNV GL secured a leading role as technical advisor to GVO Wind Ltd and Bluemerang Capital Ltd, supporting the sale of an 80% stake of the 26.1 MW Ventus portfolio of wind projects. Ventus is the UK’s largest portfolio of feed-in-tariff wind turbines, comprising 53 operational projects located across the UK. The portfolio was acquired by Malaysian power utility Tenaga Nasional Berhad (TNB). This is TNB’s second acquisition in the UK, which brings its renewables portfolio to a total capacity of approximately 280 MW. DNV GL conducted a technical analysis and Vendor’s Due Diligence of the entire Ventus portfolio and successfully supported the process which culminated in the GBP 171 million investment from TNB.

12 Feb 2018

DNV GL Lends Support to Walney 3 Offshore Wind Project

DNV GL has secured a role as technical advisor to a group of institutional lenders with their investment of the 659MW Walney Extension. Located off the coast of North West England at Barrow-in-Furness, the Walney Extension offshore wind farm will bring a mix of wind turbine types, featuring 40 MHI Vestas V164 and 47 Siemens SWT-7.0-154 turbines. DNV GL conducted a detailed technical due diligence study and full independent energy production assessment, allowing the group of lenders to develop an understanding of the technical characteristics and risk profile. The group of lenders includes Aviva Investors, BlackRock Investment Management (UK) Limited, Legal & General Investment Management Real Assets and Macquarie Infrastructure Debt Investment Solution.

11 Apr 2017

DNV GL Advisor for 3 New UK Wind Farms

DNV GL, the world’s largest resource of independent energy experts and certification body, has advised renowned lenders, including Santander, on their GBP 210 million project finance investment for the construction of three new onshore wind farms by Banks Renewables, the first of which is expected to start generating electricity by early 2018. The 151 MW three wind project portfolio, Kype Muir and Middle Muir in Scotland, and Moor House in England, were among 15 projects that had successfully secured Contract for Difference (CfD) during the first round of the UK government auction initiative in 2015. The lenders’ technical due diligence and advisory services provide an independent evaluation of a project's technical risks…

09 Jan 2017

Andrew Garrad Awarded CBE in New Year’s Honours List

Dr Andrew Garrad, who retired from DNV GL on 23 December 2016, has been awarded a CBE – Commander of the Most Excellent Order of the British Empire – in the 2017 New Year’s Honours List. The CBE rewards contributions to the arts and sciences as well as work with charitable and welfare organisations. In 1984, Andrew co-founded Garrad Hassan (GH) in Bristol. It grew to become the world’s largest renewable energy consultancy, employing 1,000 people in 29 countries. He became President of GL Garrad Hassan after Germanischer Lloyd (GL) and Garrad Hassan merged in 2009. He ran the new company until 2012, when he became Chairman. After the merger of DNV and GL, Andrew became a member of the DNV GL – Energy Supervisory Board on the invitation of former Group President and CEO, Henrik Madsen.