K2 Management has been appointed as lender’s technical, environmental and social adviser on Taiwan’s Hai Long offshore wind farm.
A consortium of Northland Power, Mitsui & Co., and Yushan Energy has appointed K2 Management as Lender’s Technical, Environmental and Social Advisor on Taiwan’s Hai Long offshore wind farm.
The scope of the contract will include advice from K2 Management to lenders on permitting and environmental, technological design (civil, electrical, turbine, grid connection), project members, construction and related contracts, timetable and weather risk, O&M strategy and contracts, technical aspects of the financial model and a study of risk management and contingency dimensions.
“There is a great transformational opportunity for Taiwan to use offshore wind to help shape a stronger economic and environmental landscape as the Asia Pacific export hub in offshore wind and Hai Long aims to be the anchor project to that.”
“K2 Management brings a combination of international offshore technical expertise alongside local Taiwanese market knowledge to the Hai Long offshore project. We will look forward to collaborating throughout the financing process.”Hidehiro Nagata, chief financial and administration officer at Hai Long Offshore Wind.
“All good projects begin with strong development, but the importance of a robust and technically sound financing process cannot be underestimated.”
“We are thrilled to be appointed in this key role, bringing technical expertise to Hai Long and supporting the project through to financial close.”K2 Management’s director of due diligence & analysis, Will Sheard.
The planned 1,044 MW offshore project, to be built 50 kilometers off the coast of the county of Changhua, will be developed in three phases, with construction scheduled to begin in 2023 and commissioning in 2025.
The Hai Long offshore wind farm intends to contribute to the Taiwan government’s energy policy goal of achieving 5.5GW of installed offshore wind capacity by 2025.