Development services
Offshore Closed
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Development services
Offshore Closed
Green Giraffe Advisory supported Mitsui, RWE and Osaka Gas in securing 684 MW project in Japanese offshore wind auction
Our team has advised the consortium of Mitsui & Co., Ltd. (“Mitsui”), RWE Offshore Wind Japan Murakami-Tainai K.K. (“RWE”) and Osaka Gas Co., Ltd. (“Osaka Gas”) in their successful bid to deliver a commercial-scale offshore wind project off the coast of the cities of Murakami and Tainai, Niigata Prefecture, Japan. Green Giraffe Advisory was the sole financial advisor to the consortium under a full scope advisory mandate for the tender period.
The consortium was awarded the concession in 2023. In the tender evaluation, the consortium was given full scores for project deliverability, which includes aspects of financial planning, schedules, etc. We are pleased to have supported the consortium with our local expertise combined with extensive international offshore wind knowledge.
Development services
Private: Floating Closed
Green Giraffe Advisory advised Equinor and Oceanex on preparing a feasibility licence application for Novocastrian Offshore Wind, located in the Hunter zone off the coast of New South Wales.
Our team provided financial and strategic advisory services leveraging our extensive industry knowledge, detailed understanding of the relevant Regulations and merit criteria, and deep expertise in offshore wind development. Our tailored advice, guidance and insight was instrumental in optimising the applications strength and positioning Novocastrian Offshore Wind for success in the application process.
Development services
Grid Closed
Development services
Offshore Closed
Green Giraffe Advisory supported the Formosa 4 (fixed-bottom offshore wind) and Formosa 5 (floating offshore wind) projects in the Taiwan Round 3 Phase 1 tender submission
In 2022, Green Giraffe supported Synera Renewable Energy (SRE), formerly Swancor Renewable Energy in the tender submission to Taiwan’s first auction round for the Phase 3 Zonal Development of Offshore Wind. In particular, Green Giraffe prepared the financial model, ran a debt market sounding and supported SRE in the bid preparation and offtake strategy.
Formosa 4 was awarded 495 MW of development capacity by Taiwan’s Ministry of Economic Affairs, alongside six other projects with COD expected to be in 2026/2027. This is the first zero-bid auction in Taiwan, projects will therefore rely on corporate PPAs. Formosa 5, a floating offshore wind project adjacent to Formosa 4, stands out as the only floating offshore wind farm that has passed the preliminary EIA review and the first floating wind site to attend grid auction in Taiwan and the entire APAC region.
Development services
Offshore Closed
Green Giraffe provided tender support in preparing a bid for the Dutch offshore 1,400 MW Hollandse Kust (west) VI & VII tenders
For this offshore wind tender the Dutch government created separate tenders for two 700 MW plots in the Dutch North Sea. In addition to a financial bid the tender criteria included requirements to provide investments and innovations that benefit the North Sea ecology (site VI) and solutions that benefit the system integration of the produced electricity (site VII). Green Giraffe was an integral part of the bid writing team for both plots. The deadline for handing in the bids was on 12 May 2022. Winners are expected to be announced at the end of this year.
Development services
Onshore / repowering Closed
Green Giraffe provided tender support to EDF Renewables and its partners in the 5th bid window of the renewable energy programme (REIPPPP) in South Africa
Phezukomoya, San Kraal and Coleskop are onshore wind farms, each with a capacity of 140 MW, which will be located in the Umsobomvu Local Municipality on the boundary of the Eastern Cape and Northern Cape provinces, South Africa. The projects were awarded preferred bidder status in October 2021 in the 5th bid window of the Renewable Energy Independent Power Producer Procurement Programme (REIPPPP).
The three projects were developed by a consortium led by EDF Renewables (South Africa), together with its local BEE partners, H1 Holdings, GIBB-Crede, and a local community trust.
Development services
Onshore / repowering Closed
Green Giraffe assisted G7 Renewable Energies with full tender, contracting and financing (debt & equity) support
Green Giraffe assisted G7 Renewable Energies with full tender, contracting and financing (debt & equity) support in preparation for the Risk Mitigation Independent Power Producer Procurement Programme (RMIPPPP) in South Africa.
The Oya project is one of the largest hybrid energy projects in Africa and is unique in the world in terms of technology mix, size, and price. It aims to build a hybrid energy facility combining onshore wind, solar PV, and lithium-ion battery storage to provide reliable, low cost, on-demand renewable energy to South Africa. This 128MW plant will offer dispatchable power to Eskom (integrated state-owned utility) and thus add much needed flexibility to the grid.
In March 2021 the project, Oya Energy Hybrid Facility, was selected as Preferred Bidder by the South African government under the RMIPPPP.
Development services
Offshore Closed
Green Giraffe provides tender advice to Nordsee 2 GmbH to assist in the preparation of a bid for the N-3.8 wind farm area in the German North Sea
Green Giraffe provides tender advice to Nordsee 2 GmbH to assist in the preparation of a bid for the N-3.8 wind farm area in the German North Sea.
Development services
Offshore Closed
Green Giraffe designed and built a financial model for Castle Wind (EnBW and Trident Winds) to support the assessment of bid proposals in the Californian lease tender
Green Giraffe designed and built a financial model for Castle Wind (EnBW and Trident Winds) to support the assessment of bid proposals in the Californian lease tender
Private: Development support
Offshore Closed
Green Giraffe formed part of Frontier, a consortium consisting of Engie, EDP Renewables and Northland Power in preparation of a bid for Hollandse Kust Zuid III & IV
Green Giraffe formed part of Frontier, a consortium consisting of Engie, EDP Renewables and Northland Power and prepared a bid for Hollandse Kust Zuid III & IV. This is the second large Dutch offshore wind project to be developed without a support mechanism
With a capacity of 380 MW each, the sites for Hollandse Kust Zuid III & IV are located next to the Hollandse kust Zuid I & II sites, which were awarded in 2018. The projects are planned to generate electricity by 2023 and will be reliant solely on market prices. The tender was won by Swedish utility Vattenfall in July 2019
Development services
Solar / hybridisation Closed
Financial modelling support for a bidder in the 500 MW Tunisian PV tender
Green Giraffe was mandated to provide modelling support by bidder in the Tunisian PV tender with a total capacity of 500 MW. The tender consists of five projects spread around the country
Development services
Offshore Closed
Green Giraffe designed and built a financial model supporting several offshore wind development opportunities for EnBW in the US
Green Giraffe designed and built a financial model including several US specific features (tax, accounting) to support EnBW expansion in the US nascent offshore wind market
Debt
Solar / hybridisation Closed
Green Giraffe was mandated by an international consortium to provide tender support services in relation to the KfW-backed GET FiT solar PV tender in Zambia
Green Giraffe was mandated as exclusive financial advisor by one of the ten pre-qualified bidders to provide tender support services in relation to the solar PV tender organized by the Zambian Ministry of Energy in conjunction with the KfW-backed GET FiT program. The tender consisted of five projects for a total capacity of 100 MW of ground-mounted solar PV plants looking to secure a 25-year power purchase agreement with local utility ZESCO
Equity
Offshore Closed
Green Giraffe was mandated by French developer Quadran Energies Marines to provide support in their preparation of a bid in the 2018 German offshore wind tender
Green Giraffe was mandated by French developer Quadran Energies Marines to provide support in their preparation of a bid in the 2018 German offshore wind tender.
The 2018 German offshore wind tender resulted in the allocation of 1,610 MW for the projects: Baltic Eagle, Gode Wind 4, Kaskasi, Arcadis Ost 1, Wikinger Süd, and Borkum Riffgrund West I.
Development services
Offshore Closed
Green Giraffe was mandated by Witwind, a consortium consisting of Dutch utility Eneco, Dutch offshore contractor Van Oord and Diamond Generating Europe (a subsidiary of Mitsubishi Corporation) to assist in the preparation of their bid for Hollandse Kust Zuid I & II, the first offshore wind farms to be built without a support mechanism.
Green Giraffe was mandated by Witwind, a consortium consisting of Dutch utility Eneco, Dutch offshore contractor Van Oord and Diamond Generating Europe (a subsidiary of Mitsubishi Corporation) to assist in the preparation of their bid for Hollandse Kust Zuid I & II, the first offshore wind farms to be built without a support mechanism.
Hollandse Kust Zuid I & II are two sites of 350 MW each, to be developed in the North Sea. The parks will generate electricity by 2022 and will be solely reliant on electricity market prices. The tender was won by Swedish utility Vattenfall in March 2018.
Development services
Offshore Closed
Green Giraffe supported the preparation of winning bids for the Hai Long 2 and 3 projects in the first ever Taiwanese offshore wind tender
Green Giraffe supported the preparation of bids for the Hai Long 2 and 3 projects in the first ever Taiwanese offshore wind auction. In particular, Green Giraffe prepared the financial model, supported project management and bid coordination and performed a strategic review and benchmark review as well as financial analysis up to bid submission. Located in the Taiwan Strait, the projects are owned by Yushan Energy (40%) and Northland Power (60%)
On 22 June 2018, Northland Power and Yushan Energy were awarded a grid connection and tariff of ~75 USD/MWh for 232 MW of additional capacity on Hai Long 2 and a tariff of ~85 USD/MWh for 512 MW on Hai Long 3. This award builds on the 300 MW grid connection and feed-in tariff previously allocated to Hai Long 2 on 30 April 2018. In combination the projects now total 1,044 MW, which is 100% of their potential capacity
Development services
Offshore Closed
Green Giraffe supported the Two Towers project in preparing the winning bid for the Dutch offshore wind Borssele V site
Green Giraffe supported the Two Towers project in preparing the winning bid for the Dutch offshore wind Borssele V site. The Borssele V plot has been designated as an innovation site. With the site the Dutch government aims to contribute to a lowering of wind energy cost while having a positive effect on the Dutch economy. The site was tendered based on qualitative criteria.
Development services
Offshore Closed
Green Giraffe was mandated as lead international financial advisor alongside Cathay United Bank as local financial advisor for the Hai Long 2 & 3 offshore wind projects in Taiwan
Green Giraffe was mandated as lead international financial advisor alongside Cathay United Bank as local financial advisor for the Hai Long 2 & 3 offshore wind projects in Taiwan to support their participation in the allocation round as well as establish a financing strategy and perform a bank market sounding
Located in the Taiwan Strait, the projects could reach around 1 GW and are owned by Yushan Energy (40%) and Northland Power (60%). The projects successfully passed the EIA (environmental impact assessment) in 2017 and participated in the first round of tariff allocation of ~195 USD/MWh in early 2018. Hai Long 2 was granted a tariff and grid connection for a capacity of 300 MW on 30 April 2018.
Development services
Offshore Closed
Green Giraffe advised a consortium to assist in the preparation of their bid for the Borssele III & IV offshore wind tender
Green Giraffe was mandated by a consortium comprising of Diamond Generating Europe, Eneco, Shell and Van Oord to assist in the preparation of their bid for the Borssele III & IV tender. The bid was won with a record breaking 54.5 EUR/MWh SDE+ regime.
Green Giraffe has continued to support the project to reach financial close, which occurred in June 2018. The Borssele III & IV offshore wind project will total 730 MW distributed over two separate sites located 22 kilometres from the Dutch coast and will provide power to approximately 700,000 households when it will be fully operational.
Development services
Offshore Closed
Green Giraffe was mandated by a consortium led by Danish renewable energy developer European Energy and Canadian investment firm Boralex to assist in the preparation of their bid for the Kriegers Flak tender
Green Giraffe was mandated by a consortium led by Danish renewable energy developer European Energy and Canadian investment firm Boralex to assist in the preparation of their bid for the Kriegers Flak tender.
Kriegers Flak is a site selected by the Danish government in the Baltic Sea to develop a 600 MW offshore wind farm. The tender was won by Swedish utility Vattenfall in November 2016.
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