Device consulting

Device consulting

Project developers, financial institutions, investors in or purchasers of a wave and tidal technology company, device manufacturers – all these stakeholders have a vested interest in a technical due diligence review of a specific wave or tidal device model.

DNV GL brings extensive expertise and experience to bear, in providing a wide variety of wave and tidal device consulting services, the nature of which can be customised to a specific client’s needs.

Clients call on these services for a variety of reasons. Some require an overview of the wave or tidal device market, to help them decide which device models to include in their project development plans; others want to purchase devices for a specific project; there are also clients that are planning the acquisition or financing of a wave and tidal project, or are thinking of taking over a wave and tidal device manufacturer. Whatever the client’s motive, and this list is not definitive, the main aim of the device consulting work is to provide an overview of the technical risks associated with the technology, and/or the business transaction in question, as well as an understanding of the possible mitigation measures.

DNV GL’s device consulting service is made up of three basic elements: a wave and tidal device market overview, including a review of a particular manufacturer and of specific device models available worldwide, or by region; a device manufacturer overview, with comments on the manufacturer’s capability to manufacture, install and service devices, compared to industry standards, previous performance and willingness to support products; a device review, with comments on the device technology compared to industry standards, device design verification status, according to IEC standards or the like, previous performance, a technical risk summary and classification of the device model, as proven or unproven technology, according to pre-determined criteria.

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