RES buys 412 MW of DNV's wind assets under management

UK renewable energy company RES said today it has acquired some asset management activities of Norway-based DNV across 412 MW of wind farms in operation in the UK and Ireland.

Under the deal, the value of which was not disclosed, staff and contracts for 27 projects will be transferred to RES along with the acquisition of the site management and control centre services. The specific assets are owned by a number of DNV’s clients, among which are CGN Europe and Cubico Sustainable Investments.

For DNV, the move is part of a broader strategy to focus on core technical advisory services and divest wind farm site management and control room services in the UK and Ireland.

Following the transaction, the UK group’s global support services portfolio, including asset management, operations and maintenance services, has expanded to cover over 7.5 GW of wind, solar and battery storage sites globally, it said.

The acquisition by RES comes on the heels of its purchase of REG Power Management’s asset management business in 2019.

“We expect to see further consolidation in this area with independent companies, like RES, who can cover a range of technologies and platforms able to add greater value to clients through enhancing asset performance,” said Darren Cook, asset management director at RES.

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