Green Power Partners
Successful takeover of the management of 88 wind turbines in 19 wind farms along the Danish west coast on behalf of two Danish pension funds.
Technical lifetime extension
Momentum took over 88 wind turbines with an installation capacity of more than 60 MW. When the administration was taken over in 2015, the average wind turbine was almost 18 years old and all the turbines were still in use.
The portfolio is extremely diverse and consists of a selection of wind turbines and brands, with installation capacities ranging from 250 kW to 1.5 MW depending on the turbine.
All the turbines were beyond their original subsidy scheme and their operation was therefore based on current market conditions.
The purpose of the project is to operate and optimize the wind turbines for their remaining technical lifetime, and to investigate and utilize repowering opportunities.
Momentum performed technical, commercial and operational management of the wind turbines.
The financial reports provided to the owners met the owners’ required standards. We collected all relevant data and information regarding all projects and compiled it on an extranet.
Projects with repowering potential were identified, studied and recommended to the owners, who then repowered 4 old Hanstholm wind turbines with 3 new Vestas V 126 in Hanstholm, North Jutland. See below.
Momentum acts as the owner’s technical advisor during all repairs and spare parts changes.
Significant savings
Momentum’s management has resulted in significant savings for the owners, as well as more in-depth knowledge about the different wind turbines. We have implemented lean process structures. We helped the owners realize a repowering project in Hanstholm, which consisted of replacing 4 old wind turbines with 3 new Vestas V126 3.65 MW wind turbines. The result of this exchange was that output increased by a factor of 10, revenue increased by a factor of 15 and the technical lifetime of the wind farm was extended by 25+ years.
Our unique approach made the difference
After screening the market’s administrators, Green Power Partners decided that Momentum should be the administrator for their portfolio and wind turbines due to our independent status and our hands-on experience with operating wind turbines – and especially obsolete wind turbines. We’ve proven that it was the right choice. We have created significant value for the owners, and in collaboration with their investment managers, we are continuously exploring new opportunities to further develop the portfolio, extend the technical lifespan and increase investor returns.