Momentum Energy Group A/S A/S 1

Continued Operation, Technical Lifetime

Extension, Repowering or Dismantling

of

Windpark Bockstigen
Gotland, Sweden

Spreewindtage Berlin,
November 11th 2021

Last updated:
November 7th 2021
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About

Momentum Energy
Group A/S
Momentum Energy Group A/S (Momentum) is an international asset
manager, developer and investor within wind and solar energy
projects. Based in Denmark our ambition is to service Danish and
international investors in all key markets in Europe:

• Founded by CEO, Kim Madsen in 2005

• +20 years of experience within renewables

• +60 employees (November 2021)

• Activities in Denmark, Sweden, Germany, UK, Italy, and France

• Local offices in Denmark, Germany, and Sweden

• Assets Under Management 7,1 billions DKK

Proactive Integrity Accessible Thorough Solution-oriented

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Activities Across
Europe
We operate in:

• Denmark • The UK
• Sweden • Italy
• Germany • France

The map is for indicative purposes only

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A strong local Partner

We ensure local presence on our clients’ projects.

We are on site and keep an eye on the delivery of the first components for
4 Siemens SWT-DD-142 wind turbines for the Norra Hunna wind farm in
Askersund municipality, Sweden.
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Local Presence in
Key Markets
Roskilde (HQ), Denmark Hamburg, Germany

Aarhus, Denmark Flensburg, Germany

Nakskov, Denmark Bremen, Germany

Gothenburg, Sweden
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Creating Momentum
With expertise and a solution-
oriented attitude, we help our
customers optimise their return by
leveraging each wind and solar
project’s potential throughout its
lifetime.
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Activity in 6 European Countries

Activity by Country
MW Wind turbines and solar plants under management in key markets in Europe.

UK Italy Sweden
France 1% 3% 3%
5%

Denmark
37%

Germany
51%

Alan Hansen, Head of Technical Management,

Denmark, performing drone inspection of blades
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2005 - 2021 (est.)

Assets Under Management

Value of turbines and solar plants managed by Momentum Energy Group A/S.

1.200

1.000
Value in millions EUR

800

600

400

200

-
2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 Est.
2021
Year
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2008 - 2021 (est.)

Total Revenue
Healthy year on year revenue growth.

140.000.000

120.000.000

100.000.000

80.000.000
DKK

60.000.000

40.000.000

20.000.000

-
2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 est.
2021

Year
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2010 - 2021 (est.)

Number of Employees
More than a 10 x increase in 11 years.

70

60

50
Number of Employees

40

30

20

10

0
2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 est. 2021
Year
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Life Time Extension, Repowering or

Dismantling of Windpark Bockstigen?
How Momentum made a business case out of +20Y old offshore wind farm in Gotland, Sweden
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In our understanding

First Some Definitions

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In our understanding

First Some Definitions

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LOCATION

The wind farm Bockstigen is located south west

of the Swedish island Gotland in the Baltic Sea.

The distance to the coast is about 4 km and the

water depth app. 6 m.

The site has the main advantages of:

• low water depth in relative large distance to

land
• suitable soil conditions for drilling and
monopile foundation
• harbor for installation and maintenance within
reasonable distance
• Exellent wind conditions, dominating wind
from south west (8,6 M/S in 80 m hub height)
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LOCATION

The wind farm Bockstigen is located south west

of the Swedish island Gotland in the Baltic Sea.

The distance to the coast is about 4 km and the

water depth app. 6 m.

The site has the main advantages of:

• low water depth in relative large distance to in d

g w
land at in W
m in on S
• suitable soil conditions for drilling and Do recti
di
monopile foundation
• harbour for installation and maintenance within
reasonable distance
• Exellent wind conditions, dominating wind
from south west (8,6 M/S in 80 m hub height)
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So the big question was

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ThatTurbine
was notorthe
notonly
Turbine?
question!
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TLE or Repowering

Questions and Considerations

Finance

Availability
Environment Noise
Legislation of
spareparts
Risk
Logistics
Distance
FIT
Turbines
available
Time Visual Building
Opex impact permit
Maintenance
Alternatives

Local Height
Potential resistance Access
Wildlife limitations?
Capex to
service
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LTE or Repowering

Pros and Cons

It's not black or white.
But sometimes you only have one option!

Continue operation LTE program Repowering

Complexity Low Medium High

Acces to finance Very high (from income) Low-medium Medium/high

Time to build None < 1 year +3-5 years

Building permit/
Limited Some Full ”package”
approval from authorities

Local resistance Limited/none Low/medium High

Full service contract No No Yes

ROI Limited Medium High

CAPEX Limited Medium High

Technical risk High Medium Limited

Project life time < 5 years ? + 15-20 years + 25 years

 Risc/reward 20

V (value)

REPOWERING
ROI

Technical Lifetime
Extension

Continued
operation R, T & C
Risk, Time & Complexity
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In this case: the turbines were very worn-out so

continued operation was not an option, and repowering
was not possible due to local infrastructure not in place
so we could increase production substantially
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Conclusion:

Technical Life Time Entension (LTE)

was the best option in this case
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Upgrading 5 pcs.
WindWorld 3700 550 kW
with 37 m diameter rotor

to
5 pcs. Vestas V47 660 kW
with 47 m diameter rotor

in Bockstigen, Gotland, Sweden.

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Dismantling hub Cleaning and repair Painting

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Preparation for renovation of 20 years old gear boxes

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Dismantling Renovation Control

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Cleaning and lubricating of gear and bearings

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Filling of oil and liquids

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Control
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Assembly Test Ready for operation

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Blades from Vestas V 47 ready for renovation

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Cleaning of Vestas V47 blade

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Grinding and repair of Vestas V47 blades

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Preparation of blades for painting

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Transport of refurbished blades from Denmark to Gotland

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Finished, complete nacelles, repaired and painted, with renovated gears

installed
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Transport of refurbished nacelles arriving in Burgsvik Harbor,

Gotland
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Dismantling of old rotor before old nacelles are dismounted

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Old blades are mounted on the platform

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Installation of new nacelle

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Dismantling and attachment of old nacelle on the jack-

up barge
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New and old meet for a short while

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End of 20 years duty

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Lift and mounting of new nacelle

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Lift of refurbished new rotor

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Mounting of rotor
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Turbine finished and ready

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Vital solutions for succes

Special project needs

special solutions

The customized construction of the transition piece was

essential for adapting the renowated V47 nacelles to the
existing Wind World towers.

The piece was constructed with focus on load and

precision.
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Old nacelles and blades piloted back to Burgsvik and

new ones are loaded
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Old parts from WindWorld nacelles back in Burgsvik Havn and picked up
for reuse.
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Work was carried out around the clock on the platform

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With tired ”sailors” as consequence

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At dawn the first turbines were ready

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Momentums role: Project

management from A-Z
• Idea and planning

• Providing finance

• Contact with authorities

• Identification and purchase of used Vestas V47 turbines

• Renovation of blades, nacelles and main components

• Transport of blades and nacelles to Gotland

• Negotiations with service providers and contractors

including crane company and jack-up rig owner.

• Dismantling and decommissioning of old WindWorld 550

kW turbines

• Installation of new refurbished Vestas V 47 turbines

• Commissioning, rest and normalisation of turbines in

operation
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Bockstigen Repowering

Results
• Technical Lifetime Extension of +20Y

• Production increased with more than

100%

• Opex increased with 25 % but much

with more security

• First LTE/repowering off shore in the

world ?

• Strong result for the environment!

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Strong Production Figures

2014 – 2018 Production from 5 WindWorld 500 kW.

2019 Production (Dark Green) from 5 repowered Vestas V47 660 kW.

Monthly Overview (kWh)

1400000

1200000

1000000

800000

600000

400000

200000

0
January February March April May June July August September October November December
2014 2015 2016 2017 2018 2019
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What did we learn?

Some experiences for next time

• Not everything went according to the plan

• We can reduce costs with at least 10% and cut 2 months off
project time next time by better planning
• Don’t take the old turbines off grid before you are sure you can
raise the new!
• Logistics (crane, barge/boat) and weather (wind, waves) is an
issue
• A strong network is essential to get acces to knowledge and
spare-parts
• Strong cost control is essential
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General experiences
from Denmark
• Wind turbines age is not an obstacle to continued operation

• With focus a little away from original maintenance manuals and towards
obtained experiences from the past, one can keep the turbines running for +30
years

• Specific turbines have issues on safety systems requiring expert repair

• The longer the turbines are running, wear and tear are shown in components
that earlier worked without problems

• Controllers in old turbines can be difficult to repair or find spareparts for.

• Main components (generator/gearboxes/blades) can be hard to find for

some wind turbines

• Local regulations and limitations in hub/total hight have opened for new
manufacturers in a normally conservative market (Enercon and EWT)

• In few cases old turbines have been dismantled and used for spareparts in
same windpark

• The solutions are individual from case to case and country to country
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Summary:

1.Old turbines can be a brilliant new possibility for the owners

2.The alternative to dismantling might be better than you think

3. Be brave. Be curious. Be thorough. The right solution is most

likely not found in any book or manual.
Momentum Energy Group A/S 60

Københavnsvej 81
4000 Roskilde
tlf. +45 46 33 70 10

www.momentum-gruppen.com

Thanks for listening!

Contact Kim Madsen, CEO
E: kim@momentum-gruppen.com T: +45 20 28 43 30

Disclaimer: The information provided in this document has been derived from
sources that we believe to be reliable. However, we cannot guarantee the
accuracy or completeness of this information and we do not assume any
responsibility for it. Momentum Gruppen A/S assumes no liability for any
errors or omissions or for any resulting financial losses. For further information,
please contact: mail@momentum-gruppen.com

Last updated: November 2021