With the support of technical due diligence advice from GL Garrad Hassan, Sumitomo Corporation and its subsidiary Sumitomo Corporation Europe agreed to invest significant amount of equity in two Belgian offshore projects.
The Belwind 1 operational wind farm and Northwind project together account for 127 wind turbines and 381MW of generating capacity with total project cost of about € 1,550 million. Sumitomo agreed to take 39% of Belwind 1 and 33% of Northwind. GL Garrad Hassan provided technical due diligence to Sumitomo Corp. The GL Garrad Hassan team examined the key areas of technical risk, including energy production, technology and design, asset status, contracts, grid and permitting.
