SgurrEnergy advises on acquisition of stake in Galloper offshore wind farm
Leading renewable energy consultancy, SgurrEnergy, supported the acquisition of a stake in the 336MW Galloper offshore wind farm in the UK. The Wood Group business provided independent technical advisory services to Sumitomo Corporation.
Sumitomo Corporation, a trading and investment company, indirectly takes 12.5% share of the project - a deal which closes in August.
The technical advisory services provided by SgurrEnergy included an assessment of the project’s permitting situation, contracting status and structure, construction timescales, capital and operating cost estimates and energy yield base case.
Chris Houston, project manager at SgurrEnergy, said: “Providing technical due diligence services on this transaction and working closely with Sumitomo Corporation on the technical and commercial aspects of this important assignment has been a great experience.
“We were able to utilise our strong track record in the offshore wind sector to provide the client with robust advice in an efficient manner and look forward to working with them again on future projects.”
Galloper offshore wind farm is located off the south-east coast of England, within the Thames estuary. Offshore construction will commence with cable laying operations this month (August 2016).
The project will consist of 56 Siemens SWT-6.0-154 wind turbines and is expected to become operational in early 2018.