Vekta Group advises Tenaga Nasional Berhad (TNB) on first offshore wind acquisition

1 November 2021

Vekta Group has provided technical due diligence and advisory services to Malaysian utility company, Tenaga Nasional Berhad, for its investment in Blyth Offshore Demonstrator Limited (BODL).

TNB, the largest electricity utility in Malaysia, has signed a share purchase agreement with EDF Renewables, acquiring a stake of 49% in the offshore wind company via its UK renewables subsidiary, Vantage RE. BODL has an operational windfarm with installed capacity of 41.5MW and further development rights for up to 58.4MW with its upcoming floating offshore wind development project.

Vekta Group worked collaboratively with TNB, providing technical advice and support for due diligence of the wind turbines, foundations, electrical infrastructure, consents and O&M.

The Vekta Group team was led by Charles Balderston, Ian Johnson and Paul Sweeney with key support from other partners and team members throughout the process.