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Northwind 216MW offshore project receives finance

BELGIUM: Developer Northwind NV has closed the €592 million financing for its 216MW offshore wind farm.

Vestas V112 turbine will be used on the project
Vestas V112 turbine will be used on the project

The project is located on the Bank Zonder Naam in the North Sea and received a concession from the Federal Belgian Authorities in 2007 under the Eldepasco name. It is owned by Colruyt Group and Aspiravi Offshore.

The financial broker behind the financing deal, Green Giraffe Energy Bankers, said the guarantees were the first in the offshore wind sector to be agreed by export credit agencies of Belgium and Norway. The first tranche is to be funded by PensionDanmark.

The deal also allowed Vestas to confirm January's announcement that it was supplying 72 V112 3MW turbines to the project.

The Vestas contract will include a 15-year service contract and installation is expected to begin next year.

Aspiravi Offshore was also involved in the Belwind Bligh Bank 1 offshore wind farm,  which also uses Vestas turbines.

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