DUE DILIGENCE
TELLING WHAT YOU NEED TO KNOW
ER-Marine’s due diligence is guided by
Objectivity and Independence
Comprehensive Regulatory and cultural understanding
Adaptability and responsiveness
Regulatory and Energy Policy
Tracking developments in the regulations and policies in South Korea, and Europe.
Ensuring projects align with Performance Standards, particularly in risk assessment and mitigation.
ER-Marine is specialised in Korean and EU energy policies!
Technical Due Diligence
Technical due diligence is essential when evaluating the viability of innovative technologies. Given the unique environmental and supply chain challenges of the South Korean market, this process involves several key components.
South Korea's offshore wind sector is influenced by challenging weather conditions, such as typhoons, which necessitate specific technologies.
Additionally, understanding energy demand patterns and grid integration is crucial.
Supply Chain Due Diligence
Assessing suppliers based on ESG criteria, focusing on ethical practices and sustainability.
Ensuring operational processes align with IFC requirements, particularly in labour and working conditions and pollution prevention.
How Do We Approach Due Diligence?
Assessing suitability for Korean conditions: The primary focus is on how technologies perform under local conditions and their adaptability to this specific environment.
Integration with domestic energy infrastructure: ensuring technology compatibility with South Korea's existing power grid and assessing capabilities and limitations are vital. This includes evaluating the technology's grid integration capabilities.
Environmental Impact Assessment: It’s important to consider the environmental footprint of the technology, including its impact on marine ecosystems.
Risk assessment and mitigation strategies: Identifying technical risks, such as the failure of key components, and operational risks, including T&I (Transport & Installation) and O&M (Operation & Maintenance) challenges, is a crucial step. Developing contingency plans and alternative solutions forms part of the risk mitigation strategy.
New Technology: Collaborating with technology suppliers and industry associations. Continual review of technical assessments as new technologies and information become available are also key aspects of due diligence.
Read more in the blog post here: Subsea cable vulnerabilities or Non-price award criteria in auction design
Contact us to mitigate risks with expert due diligence!
OWNER’s ENGINEERING
Backed by our extensive experience in offshore oil and gas and a proven track record of successful offshore wind assignments in South Korea over the past four years, ER-Marine is your trusted partner in Owner’s Engineering scopes.
Our comprehensive services includes everything from initial feasibility studies and concept planning & design to full-spectrum project management. We pride ourselves on delivering projects with the highest quality and safety standards on behalf of our clients.
We challenge the specialised expertise provided by EPC contractors, OEMs, and subcontractors, ensuring that you receive the best solutions for your projects. Whether it's a new floater concept, a HV Offshore Substation or AC/DC Offshore Cable Projects, our services will help you find the optimal solution.
Let us take on the responsibility of project management, site supervision, and quality assurance to ensure your project's success.
Our services include:
Project feasibility studies
Concept planning & design
Cost-benefit analysis
Advisory services for procurement strategies
Preparation of technical specifications
Development of technical concepts
Prepare owner’s design criteria for use in detailed engineering
Review the EPC contractor’s detailed design
Represent the owner’s interests
Support bidding and selection process
Factory inspections and due diligence on suppliers
Project management and supervision
Project interface coordination
Quality control services
Assisting 3rd part contract award and management
Oversee the work of other engineers, monitor and document EPC contractor’s work
Technical advisory services during project execution
Witnessing factory acceptance tests (FAT)
Contract and claim management
Track progress against project schedule
These are assignments we have been performing the past 4 years already!
*Specialised engineering tasks we perform with ad hoc engineering expertise.
Let us explore your Owners’ Engineering scope
TECHNOLOGY CONSULTING
We understand the challenges that companies are facing looking to develop offshore wind projects in South Korea.
ER-Marine has the technical expertise and are able to help develop your technology and strategies with the Korean supply chain.
As experienced professionals, we are able to provide realistic and viable solutions fit for the needs of your technology and the Korean supply chain.
From project concept and feasibility studies to yard and port selection to your technology development, industrialisation, and market analysis, we have you covered!
ER-Marine's local knowledge plays a crucial role in successfully introducing new technology in South Korea. Understanding the local culture, habits, and differences is essential for tailoring your strategy to meet the specific needs of Korea.
Our local knowledge enables our clients to anticipate the many challenges, and identify new opportunities.
By incorporating our local knowledge into strategies, our clients can ensure that their technology solutions align with the unique requirements and expectations of the Korean market, increasing the likelihood of a successful introduction and long-term success.
Our services include:
Technology assessment
Yard, Port and Vessel assessments
O&M concepts and strategies - Major Component Replacement studies
Concept study, pre-FEED, FEED development
Detailed design review
Risk identification, mitigation and risk management
CAPEX - OPEX budget reviews
Interface management
Compliance - Permit requirements
Fabrication, operation and maintenance concept evaluations
Let us discuss your floater concept
MARKET ACCESS
We are living in Korea for 16 years and 4 years pioneering with ER-Marine dedicated to developing offshore wind in South Korea.
We understand the challenges to penetrate this new market and of securing support from Boards and Executives, and the even greater difficulty of aligning them toward a targeted position for your organization.
We have the expertise of getting the Board talk the same language.
Understanding the local challenges and opportunities is crucial.
We excel at assessing and comprehending the specific challenges your business will face in the Korean context.
Challenges are only challenges until we identify and seize the opportunities!
