Turbines are the most capital-intensive and technically demanding assets in plant and machinery valuation: value is driven not by nameplate specifications alone, but by operating hours, overhaul history and the cost of installation at a specific site. The Kanzas company provides independent valuation of turbines and power plant equipment for generating companies, industrial enterprises, banks and investors. Our team includes appraisers holding international valuation certifications, and reports are prepared in line with the International Valuation Standards (IVS).
When a turbine valuation is required
Typical engagements: revaluation of fixed assets of energy companies to fair value under IFRS; pledging equipment as loan collateral; purchase or sale of a turbine, including used or dismantled units; contribution in kind to share capital; insurance and claims support; liquidation value assessment when a generating unit is decommissioned. Each purpose carries its own reporting requirements, and we build the engagement around the recipient of the report — an auditor, a lender or a court.
Assets we value
We value all turbine types: steam turbines — from utility-scale units to industrial combined heat and power plants; gas turbines and gas piston units; hydro turbines of large and small hydropower plants; wind turbines — both individual units and entire wind farms. Alongside turbines we appraise associated equipment: turbine generators, boilers and thermal plant equipment, transformers and control systems. Where the subject is a power plant as a going concern, we perform a valuation of the entire business as an integral property complex, applying an income approach to generation.
War damage assessment for energy assets
Ukraine's energy sector has sustained extensive damage from missile and drone strikes. We have substantial experience in war damage valuations under the officially approved damage assessment methodology: we document the value of destroyed or damaged equipment for compensation mechanisms, insurance claims and litigation, including claims before international bodies. Reports undergo review under the requirements of the State Property Fund of Ukraine.
Methodology: depreciation, operating hours, installation
The cost approach is primary: replacement cost of a modern equivalent is adjusted for three forms of depreciation — physical (operating hours and position in the overhaul cycle), functional (efficiency gap versus current technology) and economic (plant utilization and the electricity market). For generating assets we also apply the income approach. A defining feature of turbine valuation is the share of installation and commissioning in total value: an installed, operating turbine and an ex-site unit differ in value by multiples, and the appraiser must substantiate that difference.
Questions and answers
Can a turbine be valued separately from the power plant? Yes. A turbine can be appraised as a standalone item of machinery — for sale, collateral or insurance. Where the objective is the value of the generating business, the plant should be valued as an integral property complex instead.
How are operating hours and overhauls reflected in value? Accumulated operating hours and the position within the overhaul cycle form the basis of physical depreciation. A completed major overhaul partially restores the asset's service life and increases value, supported by overhaul documentation.
Do you value destroyed equipment for compensation claims? Yes — this is one of our core practice areas: damage valuations under the approved methodology for compensation mechanisms, insurance cases and court proceedings. The more complete the pre-damage documentation, the stronger the evidentiary basis.
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