Swedbank; an inclusive bank with 7.2 million private customers and 600,000 corporate and organisational customers. Swedbank operates in Sweden, Estonia, Latvia and Lithuania.
Raggovidda is the world’s most northern wind farm, developed by Varanger Kraft, near Berlevåg in Norway. This onshore wind farm consists of 15 Siemens wind turbines with a total intalled capacity of 45 MW.
Swedbank needed a third party to provide a technical due diligence with the purpose of being able to perform an informed investment decision.
DNV GL performed a due diligence consisting of a review of the technical elements of the project, including the project organisation and stakeholders, permits and contracts, energy assessments, turbine technology, turbine suitability, foundations and geotechnical conditions, site lay-out and civil and electrical works, construction and operation budgets and schedule. The work was performed by a multidisciplinary expert team from across the DNV GL organisation. After undertaking a pre-construction due diligence of the project, DNV GL acted as Swedbank’s technical advisor for the construction phase which was completed in 2014. DNV GL provided Swedbank with critical information regarding the robustness of the project. The report enabled the bank to make an informed and qualified investment decision based on expert insight and documentation.