Offshore wind power has a major role to play in the future of energy. The challenge which faces developers of prospective wind farms is how to innovate and reduce costs, while managing the risk of bringing new or improved concepts into the offshore field.
We were approached by a leading offshore wind developer and investor to undertake a rigorous and in-depth technical due diligence commission for a potential offshore wind foundation.
The client provided our team with the plans for the foundation, aiming to obtain design and commercial certainty. Their goal once achieved was the ability to use the design for various offshore wind developments internationally.
We reviewed the design and considered the following factors as part of the assessment:
Construction: Assessing the viability of building the floating concrete structure.
Location: Verifying the local supply chain for the construction of the foundation.
Risk: Identifying any risk factors in the design.
Design standards: Following standards for the US offshore and international wind markets.
Our structural team, made up of specialists in offshore energy structures, undertook an in-depth technical due diligence role on behalf of the client.
We used our knowledge in the offshore energy market
The team undertook an engineering based review, utilising their extensive offshore structural experience to analyse the design in detail to decide if it was financially and structurally sound. We are a world leader in concrete design both onshore and offshore, this experience enabled an efficient and effective review for this one of a kind structure.
The due diligence role saw the team extensively evaluate the local supply chain where the structure would be built, as well as local construction ability and build locations - a key part of the process.
To foster a global approach to a local project
A significant contribution to the project was our ability to use experts from across the firm to look at local design codes from a variety of countries for the offshore wind market.
As an example, in the past 15 years European nations have developed a thriving off-shore wind energy sector, with over 3,500 turbines providing power from the seas of 10 countries.
We provided an independent and neutral approach to the commission, with only the best structural and design guidance.