Renewable energy consultancy K2 Management has been picked to advise developes of the Inch Cape offshore wind farm.
The 1,080 megawatt (MW) development will be located 9 miles off the coast of Angus and will comprise of 72 turbines.
It will be Scotland’s largest single source of renewable power when built, with the capacity to generate the equivalent annual power needs of more than 1.7 million homes.
The operations and management base for Inch Cape has been earmarked for Montrose Port.
Inch Cape is being developed by Red Rock Power and Irish energy company ESB, and was awarded a Contract for Difference (CfD) under the UK Round 4 Allocation.
As lender’s technical adviser, Denmark-based K2 will provide a bank launch and financial close report for financiers.
It will also oversee all aspects of the project design, delivery, and operations.
K2 to bring clarity to financial and development challenges
Senior consultant at K2 Bethany Rowson said: “Working alongside Inch Cape Offshore Limited as a strategic partner allows us to support the development of a significant addition to the offshore wind pipeline in Scotland.”
“With ever more sizeable projects in more extreme environments, both long-standing and emergent offshore wind developers and investors need – more than ever before – total clarity on the financial and development challenges that projects of this scale entail.
“With our long heritage and global track record, we’re able to leverage our experience in early-stage offshore wind development to provide utilities, IPPs, lenders and investors with the full picture on the preliminary risk management required to keep projects moving through the development cycle.”
Inch Cape project manager Sean Kirwan added: “The Inch Cape Offshore Wind Farm will make a significant contribution to the UK’s offshore wind and wider decarbonisation targets.
“We look forward to continuing our work with K2M as we seek to bring the project successfully to financial close – and through to safe and successful delivery.”