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Netherlands

Netherlands

Bard sells offshore stake to Typhoon and HVC

NETHERLANDS: The largest offshore wind farm planned for the Netherlands now has two new Dutch co-owners after German developer Bard sold its interests in the Buiten Zee scheme to Typhoon Capital and utility HVC for an undisclosed sum.

Bard's 5MW offshore turbine
Bard's 5MW offshore turbine

Typhoon, a green investment fund, will have an 85% stake, while HVC, the Alkmaar-based energy provider to a number of Dutch municipalities, takes 15%. They will now finance and construct the 600MW project, to be built in the North Sea 55 kilometres north-east of Schiermonnikoog. Bard, which originally won the Round 2 project in 2010, will remain involved in the project as turbine supplier.

"The financing of the project is on track and we expect to start construction in August 2012, a year earlier than was agreed with the Ministry of Economic Affairs," said Typhoon Offshore board member Dirk Berkhout. "That the project is now in Dutch hands can play a role with respect to the allocation of the Duurzame Energie subsidy — in which case the wind farm could be increased by an additional 100MW."

HVC CEO Wim van Lieshout said: "HVC seeks to maximise the public content of this wind farm. We want to stimulate the participation of municipalities, provinces and water authorities."

Bard Holding's CEO Bernd Ranneberg added: "With Typhoon and HVC we were able to find strong partners to bring the project to realisation."

Bard is currently installing Bard Offshore 1, the first commercial wind farm in the German North Sea.

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