in News Departments > FYI
print the content item

GL Garrad Hassan notes that it provided technical due diligence advice to Japan-based Sumitomo Corp. and its subsidiary Sumitomo Corp. Europe before they recently invested a significant amount of equity in two Belgian offshore projects.

GL Garrad Hassan says the Belwind 1 operational wind farm and Northwind project together account for 127 wind turbines and 381 MW of generating capacity, with a total project cost of about EUR 1.55 billion. Sumitomo agreed to take 39% of Belwind 1 and 33% of Northwind.

According to the GL, its team examined the key areas of technical risk, including energy production, technology and design, asset status, contracts, grid and permitting.

“This deal is proof, if it were needed, that offshore wind is a proven asset class,” comments Jo de Montgros, head of independent engineering at GL Garrad Hassan. “We were delighted to be able to assist with the mobilization of new capital in the offshore wind business by providing the required level of clarity and independence to our customer.”




Trachte Inc._id1770
Latest Top Stories

Senate Passes Tax Extenders Bill With Wind PTC Extension

The legislation, which passed in the U.S. House earlier this month, will renew the critical production tax credit through the end of 2014 - giving developers only about two weeks left to start construction.


Transmission Study Shows Nebraska Could Handle A Lot More Wind Power

A new report released by the Nebraska Power Review Board finds that the state already has enough infrastructure to accommodate at least 2 GW of additional wind generation.


Can Wind Energy And Birds Coexist? Environmental Group Says Yes

The Environmental Defense Fund, a supporter of responsible wind energy development, points out ways to help mitigate impacts of turbines on birds and bats.


Another Study Finds Wind Turbines Do Not Affect Nearby Property Values

Research conducted by the University of Guelph focused on regions in Ontario, and the conclusion echoes that of previous studies.


Too Little, Too Late? U.S. House Approves Wind PTC Extension

The U.S. House of Representatives has passed a tax extenders package that would renew the wind production tax credit (PTC) and about 50 other expired tax breaks through 2014. The wind industry argues the short-term fix is virtually no fix at all.

Hybrid Energy Innovations 2015