Offshore wind farm financing is usually arranged via two or three contracts, but this project required a multi-contracting approach.
Although a total of 14 original contracts was reduced to six by financial close, the number of contracts involved posed a significant challenge.
Our experts rigorously scrutinised all technical and commercial aspects which involved reviewing all 14 contracts and a large-scope demarcation matrix that described the responsibilities of contractors to identify any potential gaps. This input and our lenders’ reports led to successful financial close.
We also provided input during project development and contracting to ensure that technical and commercial terms relating to wind turbine technology risks were incorporated.