DNV GL Provides Due Diligence for Walney Extension

For many of the lenders, including BlackRock and Macquarie, this was the first step towards offshore wind power. “As the offshore wind industry matures, new lenders are entering this rapidly growing market, seeking stable long-term returns which are sustainable, and economically considerate," explains Prajeev Rasiah, Executive Vice President for DNV GL’s Energy business in Northern Europe, Middle East & Africa.

DNV GL has therefore carried out a detailed technical due diligence study and a full independent assessment of energy production to enable the group of lenders to develop an understanding of the technical characteristics and risk profile of this investment.

The 659 MW Walney Extension wind farm is being built in the Irish Sea and is part of one of the world's largest offshore wind projects. The Walney wind farm is expected to have a total capacity of 1.7 gigawatts. Walney Extension will consist of a mix of 40 MHI Vestas V164 and 47 Siemens SWT-7.0-154 turbines.