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ONP MANDATED AS LENDERS TECHNICAL ADVISOR

Acting as lead manager Talanx is financing a further offshore wind farm.

Hamburg. Already in May 2017, ONP Management GmbH was mandated by Talanx as Lenders Technical Advisor for the project Borkum Riffgrund 2. Borkum Riffgrund 2 comprises the construction of 56 wind turbines with a combined output of 450 megawatts. As lead manager of the transaction, Talanx has successfully coordinated a double-digit group of institutional investors ranging from six countries across Europe. Supported by ONP acting as the Lenders Technical Advisor Talanx has coordinated EUR 832 million of senior bond financing to the Borkum Riffgrund 2 offshore wind farm which enabled Global Infrastructure Partners (GIP) to acquire a 50 percent share in the wind farm owned by Danish energy supplier Ørsted (formerly DONG Energy), with a transaction volume of EUR 1,170 million. The bond has a maturity of 10 years.

In addition to German insurance companies and asset managers, further institutional partners include banks and European institutional investors, amongst them: DekaBank, Edmond de Rothschild AM’s BRIDGE platform, La Banque Postale Asset Management, NN Investment Partners and Wiener Städtische Versicherung.

DolWin Gamma

ACDC Converterstation DolWin-3 during installation, Offshore Windfarm Borkum Riffgrund 1 in the background

Suction Bucket Jacket

Installation of the Suction Bucket Jacket prototype on Borkum Riffgrund 1
(Source: Orsted)

BORRG1

Neighboring Offshore Windfarm Borkum Riffgrund 1

Headquartered in Denmark, Orsted employs more than 5,600 people worldwide. Orsted shares are listed in Nasdaq-Copenhagen (Orsted). In 2016, the company generated sales of 8.2 billion Euros. In Orsted's offshore wind farm Borkum Riffgrund 1, an innovative foundation technology using a three-legged "Suction Bucket Jacket" was tested which is now being used at Borkum Riffgrund 2 on a larger scale in addition to the proven monopile foundation technology. GIP is a leading global, independent infrastructure investor that invests in energy, transportation and water / wastewater and currently manages approximately $ 43.4 billion for its investors. GIP's portfolio includes companies with annual revenues of over $ 35.1 billion and approximately 47,100 employees.

KNK Wind thanks ONP for good co-operation

Hamburg. Since April 2016 during development of one of the most technically demanding offshore wind projects in the Baltic Sea, the 350 MW Arcadis Ost 1 offshore wind farm project, the experienced ONP team has been supporting the project developer KNK Wind GmbH while gearing up for the first German auction.

With its market-penetrating network ONP has also successfully initiated and conducted negotiations with investors, thereby preparing the business case for a KNK guided participation in the 1st German auction for offshore wind projects.
Finally KNK was in a position to win an investment partner providing the necessary funds for the submission of an offer based on the technical foundation concepts developed by ONP.

Please refer to the letter of reference by KNK Wind GmbH

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Final Taking-Over at Gode Wind 1

The construction phase of the offshore wind farm project "Gode Wind 1" has been successfully completed.

ONP congratulates all project participants on the recent completion of the construction works and the Final Taking Over on 03.02.2017. With a capacity of 355 MW, the wind farm developed by the Danish utility DONG will be among the largest in the German North Sea. The offshore windfarm is equipped with modern 6 MW Siemens wind turbines, type SWP-6.0-150.
The "Final Taking Over Date" has occurred on February 3rd, 2017.

In the early phase of the project end of 2015 ONP Management GmbH has been mandated by a group of institutional investors led by Talanx Asset Management GmbH as the Lenders Technical Advisor (LTA).

After the successful Taking-Over ONP will continue to independently advise the lenders' group on all technical matters during the operation of the offshore wind farm over a period of about ten years. Our team is strongly focused on the relevant technical, commercial, environmental and operational aspects of the project.

GOW-1

Offshore Windfarm Gode Wind 1
(Source: DONG Energy)

NMS

Pile-driving of Monopiles with Big Bubble Curtain and IHC-NMS noise mitigation system
(Source: DONG Energy)

"Tombstone"

The GIP-Talanx "Tombstone" for a successful transaction

PRESSRELEASE 08.09.2016

Milestone on the way to the realization of the offshore windproject Merkur Offshore

Hamburg. ONP Management GmbH (ONP) congratulates the shareholders of Merkur Offshore GmbH for the recently achieved final confirmation of financing its 396 MW Merkur offshore wind development project. The Merkur Offshore wind farm will be one of Germany's largest wind farms utilizing 66 state of the art Haliade 150-6MW offshore turbines from GE, installed by GeoSea, member of the DEME Group.

Several major tasks had to be tackled successfully since ONP's assignment in early 2015. After re-structuring the project team and seconding experienced offshore wind experts, a re-arrangement of the group of investors and developers took place. This resulted in the commitment of close to EUR 500 million in equity by a consortium of five sponsors, comprising of:

  • Partners Group
  • InfraRed Capital Partners
  • DEME Concessions Wind
  • GE Energy Financial Services
  • L’Agence de l’environnement et de la maîtrise de l’énergie (ADEME).

The achieved commitment of approximately EUR 1.2 billion of senior secured debt to the project by a group of nine leading international and local banks, marks the latest step for a total capital investment of ca. EUR 1.7 billion into the development of Offshore Wind in Germany.

Mr. Martin Rahtge, Managing Partner of ONP, said: "ONP is very proud to have contributed to this milestone with its staff of engineers over the last 1.5 years. To have finally reached this milestone is a great success for the complete project team and all parties involved. After having accompanied and fostered the projects development over a long time, it is a satisfying proof, that with enthusiasm and commitment to Offshore Wind, we can achieve the transition to clean energy production which is bankable, payable and creates a solid heritage for generations to come."

ONP is part of the Zech Group, with its headquarters in Hamburg. The company was founded in 2014 and is delivering technical advisory and consulting services for Offshore Wind projects. ONP has more than 35 employees, who have been involved throughout their professional career in the development and installation of more than 4.500 MW of offshore wind power. Its senior experts have more than 12 years of individual practical experience in the area of project development and realization of such projects.

Mr. Arjen Schampers, project director of Merkur Offshore, added: ONP Management and its experienced and devoted staff have been a great asset for the project team in the successful technical development of Merkur Offshore. The main tasks such as handling time critical major design changes, negotiation and finalization of major contracts for Balance of Plant and Wind turbines, as well as the development of a detailed project plan where performed to our full satisfaction. We are looking forward to continuing the excellent cooperation with ONP Management in the further development of Merkur Offshore and we can highly recommend ONP Management.

Contact:

Holger Römer
ONP Management GmbH
c/o Zech Group GmbH
Head of Corporate Communication
August-Bebel-Allee 1, 28329 Bremen
Phone: +49 (0) 421 41007-113
Mobile: +49 (0) 151 11720982

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MP T&I

Installation of Monopile foundations with Jackup installationvessel INNOVATION
(Photo: Wolfhard Scheer)

INNOVATION

Installationvessel INNOVATION with noise mitigation system IHC-NMS and Big Bubble Curtain, in the background BARD 1 windfarm
(Photo: Wolfhard Scheer)

MP installed

Monopiles after installation
(Photo: Wolfhard Scheer)

ONP commences R&D project activities at OWS-MV

ONP is granted formal approval for research project on 30.09.2015

Hamburg. In one of the largest German research projects ONP Management being one of a total of 17 alliance partners initiated first development activities. The project is funded by the German Federal Ministry of Research and Education (BMBF) and was formally started in November 2016 with a term of three years.

On the homepage of the Alliance you will find more information about the current status of the R&D project:

The innovation-alliance "OWS-MV Offshore Wind Solutions Mecklenburg-Vorpommern" consists of 17 partners, including 15 industrial and engineering companies as well as 2 public research facilities. The alliance has clearly defined its goal of providing a substantial contribution to the future energy mix by developing innovations for renewable offshore wind energy in Germany and Europe. In particular the alliance faces those many challenges that have to be overcome economically developing sites for offshore wind parks with great coastal distance and water depths of more than 40 meters combined with difficult soil conditions.

A major share of the funding is coming from the federal support program "Unternehmen Region", the innovation initiative for the "New Federal States" of Germany. For 2016 the federal government plans an increase of the annual funds by 10 million euro to a total of 159 million euro. The Alliance is well positioned in the attractive growth market for renewable energy, in particular offshore wind energy and is pursuing the goal of ensuring long-term sustainable economic development by leveraging innovation potential and strengthening cooperation between the alliance partners.

For more information please refer to the federal website "Innovative regionale Wachstumskerne" of the Federal Ministry of Education and Research (Bundesministerium für Bildung und Forschung - BMBF).

ONP MANDATED AS LENDERS TECHNICAL ADVISOR

For the first time Talanx is financing an offshore wind farm with a structured bond

Hamburg. ONP Management GmbH was appointed Lenders Technical Advisor for Talanx Asset Management GmbH, acting as the leader of a group of institutional investors. Talanx has co-ordinated the project financing for the construction and operation of the offshore wind farm Gode Wind 1 winning the "Europe Renewables Deal of the Year 2015" award as a result. The prize for the best financing transaction in renewable energies is awarded annually by trade magazine Project Finance International (PFI).

By co-ordinating a structured bond of EUR 556 million to finance Global Infrastructure Partners’ fifty percent acquisition of DONG Energy’s Gode Wind 1 offshore wind farm, Talanx acquired a new role on the market. This is the first time that a group of institutional investors under the leadership of an insurer has financed an offshore wind power project. The bond has a maturity of 10 years. For the first time an institutional consortium led by an insurer is financing an offshore wind energy project.
The institutional consortium consists of the following 5 main partners:

  • Talanx Asset Management GmbH
  • SIGNAL IDUNA Asset Management GmbH
  • Versicherungskammer Bayern
  • Gothaer Krankenversicherung AG
  • Metzler Investment GmbH

ONP is member of the Zech Group, with its headquarters in Hamburg. The company was founded in 2014 and is delivering technical advisory and consulting services for Offshore Wind projects. ONP has more than 35 employees, who have been involved throughout their professional career in the development and installation of more than 4.500 MW of offshore wind power. Its senior experts have more than 12 years of individual practical experience in the area of project development and realization of such projects.

Please refer to the Talanx letter of reference

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Offshore Windfarm under construction

Installation of Turbines during the construction phase of an offshore wind project

ONP Management Team

from left: Gerd Kroll, Dr. Stefan Woltering, Martin Rahtge
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Offshore Windfarm

Offshore Wind Powerplant ready for operation