The portfolio consists of six operational wind farms in Scotland and Walkes, consisting of more than 100 turbines with a total installed capacity in excess of 250MW. Fichtner carried out a detailed technical due diligence on each asset including turbine inspections to support CIP in concluding the transaction.
As part of the due diligence, Fichtner undertook the following scope;
- technical review of assets- including site visits, verification that turbines comply with certified designs, mechanical damage and other maintenance issues, review of historic maintenance and repairs, confirmation of current technical status, turbine review and availability of spares;
- wind resource and production estimate;
- review of historical wind data, P50 and P90 values and assessment of curtailment if applicable;
- O&M Review;
- O&M strategy, adequacy of existing O&M contracts to achieve target availability, need for contingency area spares and estimated future O & M costs, “bottom up” and benchmark analysis, and;
- review of technical and non-technical Infrastructure including grid connections and associated agremeents.
CIP invested £153m of equity into Falck’s operational UK onshore wind portfolio in Q4 2013, providing CIP with a 49% ownership share in Falck’s portfolio in Scotland and Wales. The portfolio has a total capacity of 272.75 MW, which supplies approximately 160,000 households with renewable electricity.