TNEI provides consultancy support to international energy investor for acquisition of 230MW Irish wind power portfolio
Specialist independent energy consultancy, TNEI, has provided technical grid and environmental due diligence for international investor, CGN Europe Energy S.A.S. (CGNEE), in order to support their acquisition of a large wind power portfolio from Irish renewable energy and energy storage organisation, Gaelectric.
The portfolio of wind farms, of which seven are located in Northern Ireland, and seven in the Republic of Ireland, has assets comprising ten operating wind farms with a total output of 184MW; with a further four wind farms generating a total of 46MW that will commence operations by mid-2017. These wind farms will produce enough energy to meet the electricity needs of around 120,000 homes, offsetting around 250,000 tonnes of CO2.
TNEI partnered with wind energy consultancy, K2 Management on this project and the combined efforts of the two companies ensured CGNEE was able to successfully value and acquire the portfolio. TNEI provided specialist advice on a number of complex issues which can affect wind farms in Ireland, including grid codes, constraints and curtailment on the Irish system, noise issues, and environmental and consenting issues, while K2 Management led the technical due diligence, including review of contracts, technology, costs and the energy yield.
TNEI’s Managing Director, Rachel Hodges, said, “We have more than a decade of wind energy experience in Ireland, allowing us to work really effectively with K2 Management to support CGNEE on this transaction”.
K2 Management Director of Global Due Diligence, Simon Luby, said, “Understanding grid constraints is one of the single biggest challenges in the valuation of wind assets in Ireland, so having TNEI as a partner was crucial”.
CGNEE was pleased with the services provided by the two expert consultancy companies, “CGNEE is dedicated to becoming a rising force in renewable energy in Europe. For this to happen it is important to work with senior advisors and consultants. Their hands-on experience and insights have given us the necessary comfort for investing and de-risking areas of concern,” Mr LI You from CGNEE comments.
Source credit: http://www.tnei.co.uk/node/406
Follow our latest news on Twitter – @IndepthNRG
Or search for these hashtags – #windenergy #windturbine #windpower #renewableenergy #windmill #windgenerator #alternativeenergy #renewableenergysources #photovoltaic #renewableturbine #renewableresources #cleanenergy