Summit Asset Management provides structured asset finance in multiple markets including renewable energy projects across the UK.
The company approached Digital Engineering as a result of an underperforming project in one of its client’s wind portfolios.
In order to determine whether the root cause of the problem was related to the turbine itself or inadequate wind speed predictions in the feasibility phase, we produced a Site Suitability Assessment. The findings identified that the turbine technology had been performing as it should during the time it had been operating but that their initial wind resource estimates had been overly optimistic, predicting average wind speeds 25% higher than our own estimates.
As a result of our findings, Summit Asset Management was able to agree a remediation plan with its client which unlocked further capital for future projects. In addition, we have been asked to provide reports in relation to all of Summit’s wind-related financial transactions which, to date, equates to £30million of investment.