Windanker Offshore Wind Farm
Project title: Windanker Offshore Wind Farm
Client: Kansai Electric Power
Sectors:
- Offshore Wind – Fixed
- Offshore Wind – Floating
Location: German Baltic Sea
Top-Line Services:
- Lender’s Technical Advisory
- Technical Due Diligence
Project summary:
OWC was appointed as independent lenders’ technical adviser to Kansai Electric Power’s proposed acquisition of a 49% stake in Windanker, a 315 MW offshore wind farm under construction in the German Baltic Sea.
The project is being developed by Iberdrola through Windanker GmbH and will use 21 offshore wind turbines of around 15 MW each on monopile foundations. Windanker is Iberdrola’s third offshore wind project in the Baltic and forms part of its Baltic Hub, which will add more than 1,100 MW of installed offshore wind capacity.
OWC’s role began with technical and environmental due diligence before financial close and then phased into continuous monitoring as lenders’ technical adviser throughout the installation of the wind farm.
Project Challenges
Kansai and its lenders required a clear understanding of the remaining technical and environmental risks associated with the proposed 49% investment, together with practical mitigations as the project progressed into construction.
Key challenges included:
Assessing the remaining technical and environmental risks before financial close.
Evaluating the adequacy and practicality of proposed mitigation measures.
Supporting the lenders’ technical assessment of the transaction.
Ensuring identified risks were carried forward into the lenders’ technical advisory monitoring scope.
The assignment also required continuity between transaction-stage due diligence and installation-phase monitoring, so that risks identified before financial close remained visible and actively managed.
Our Solutions
OWC delivered technical and environmental due diligence at the start of the transaction, providing an independent basis for the lenders’ assessment.
OWC’s scope included:
Independent technical and environmental due diligence before financial close.
Assessment of remaining project risks and proposed mitigations.
Definition of risk items for inclusion in the lenders’ technical advisory monitoring scope.
Ongoing follow-up of identified risks through further development and installation.
Continuous lenders’ technical advisory monitoring during wind farm installation.
Our Value
OWC’s independent assessment enabled informed decision-making ahead of the completed acquisition, which had an enterprise valuation of EUR 501 million.
The assignment demonstrated OWC’s ability to combine local German expertise with international technical advisory and the loss-prevention capability of our sister company, ABL, for a complex offshore wind supply-chain transaction.
Continuity from due diligence into installation-phase monitoring ensured that identified risks and mitigations remained visible as the project moved through construction.
Independent technical and environmental due diligence before financial close.
Clear assessment of remaining risks and practical mitigations.
Continuity from transaction due diligence into installation monitoring.
Ongoing lenders’ technical advisory throughout wind farm installation.
Supported the technical assessment of Kansai’s proposed 49% investment in Windanker.
Related services and sectors
Technical Due Diligence
Fixed Offshore Wind Engineering Consultants
