OWC and Bridge Wind Management to collaborate on offshore wind investments
13 June 2024: Bridge Wind Management has entered into a strategic alliance with Renewable energy consultancy OWC to join forces on offshore wind asset and operational management, combining to enable more informed decision-making for offshore wind investors.
“We have been collaborating with Bridge to drive maximum value out of offshore wind and other offshore renewable technologies. says John MacAskill, Global Managing Director for Renewables, ABL Group. “As offshore wind reaches a new level of maturity, we wish to provide even more comprehensive support to the investment landscape together with Bridge’s specialist financial and commercial expertise.”
OWC is a global renewable energy consultancy specialising in technical due diligence, owner’s engineering, technical studies and independent engineering, to support the grid-scale development of renewable energy technology onshore and offshore.
Bridge Wind Management has specialised for over 30 years in renewable energy management services, working for and with some of the largest investors, owners and operators in the global renewable energy infrastructure sector.
“We see this collaboration with OWC as an opportunity to leverage our respective areas of expertise and client bases, to maximise value from the offshore wind sector for our clients, thereby making this an even more attractive industry to invest in. OWC’s extensive range of technical services alongside our experience of managing investments in the sector, is a powerful combination which will support investors in the highly complex area of offshore wind financing and as the industry becomes established in more global markets,” says Steve Read, CEO of Bridge Wind Management.
About the strategic alliance
Under the terms of the partnership, OWC and Bridge will collaborate to provide a one-stop-shop approach to asset and operational management for offshore wind projects. They will combine Bridge’s expertise in managing the financial and commercial aspects with OWC’s insight into the technical aspects that impact a renewable asset across its operating lifecycle.
The objective is to unlock the details that matter to investors regarding the performance of an offshore wind farm, thereby enabling more informed and effective decision making and a more transparent financing landscape in offshore wind.
The alliance enhances both companies’ service offering to financial institutions and the renewable energy investment community.
The partnership also allows Bridge to leverage OWC’s global footprint to expand its offering into new markets, notably in Asia Pacific, Southern Europe and the US. OWC’s experience supporting more than 50 floating wind projects will also create opportunities as the investment landscape into floating technology matures.
OWC is part of Oslo-listed ABL Group ASA. Combined, the Group has supported more than 330 offshore wind projects in over 36 countries. Service expertise in addition to OWC’s offering, covers every stage of a project’s value chain, including marine advisory, vessel surveys inspection and audits, marine warranty survey (MWS) for transportation and installation (T&I), operations and maintenance (O&M), and decommissioning phases, and project management.
