DNV GL is pleased to reveal that it is acting as the lenders’ technical advisor for five of the seven wind farm projects, representing a total capacity of 590 MW or three quarters of contracted capacity. This is a clear indication that DNV GL is the technical advisor of choice for successful wind farm developments in what is becoming one of the most buoyant global markets for renewables. DNV GL’s services are providing the technical confidence that the financial community requires to meet the large capital requirements of these leading projects.
Three of the five projects (Khobab, Loeriesfontein 2 and Noupoort) were developed by Mainstream Renewable Power. The debt for the projects has been arranged and underwritten by Barclays, the Development Bank of Southern Africa and EKF the Danish export credit agency. DNV GL advised Barclays as the lead arranger. The two remaining projects (De Aar Maanhaarberg and De Aar 2 North) were developed by China Longyuan Power and Mulilo Renewable Energy Limited. DNV GL advised Nedbank and the IDC as the main lenders on these deals.
Including projects which signed contracts in previous auctions, DNV GL is now advising a total of nine successful wind farm projects in South Africa. With an installed capacity of more than 1.05 GW, the projects represent more than half of the entire capacity of wind projects to have achieved preferred bidder status in South Africa‘s flagship renewables programme.
RV Ahilan, Executive Vice President of Renewables Advisory at DNV GL - Energy said:
"This is great news for DNV GL in South Africa. We have worked hard to ensure our expertise is recognised not only in South Africa but globally. Supporting our clients and the Industry in South Africa is a key focus for our newly formed company."
As the world’s largest renewable energy advisory, DNV GL is able to combine the benefits of in-country expertise and local offices with its global reach in support of the South African market. Large public renewable energy tender rounds are becoming more common around the world; an unmatched pool of talented engineers allows DNV GL to react quickly to the challenges of supporting numerous concurrent projects. Having secured a contract, winning projects can look forward to close support up to financial close, through construction and throughout the operational phase.
As of 12 September 2013, DNV and GL have merged to DNV GL
- DNV GL’s objective is to safeguard life, property and the environment. Organised in four business areas: Maritime, Oil & Gas, Energy and Business Assurance
- Offers ship and offshore classification, certification and verification in addition to software services and advisory services
- Mainly works within the maritime, oil & gas and energy industries
- Also offers certification and sustainability advisory services to a large number of other industries worldwide
- The group currently invests about 5% of its total revenues in strategic research & innovation
- Headquartered at Høvik outside Oslo, Norway
- DNV GL employs more than 16,000 people in some 100 countries
- The DNV Foundation owns 63.5 per cent of DNV GL, while Mayfair owns 36.5 per cent.
DNV GL – ENERGY:
- Delivers world-renowned testing and advisory services to the energy value chain including renewables;
- Expertise spans onshore and offshore wind power, solar, conventional generation, transmission and distribution, smart grids, and sustainable energy use, as well as energy markets and regulations;
- 3000 energy experts support clients around the globe in delivering a safe, reliable, efficient, and sustainable energy supply.