Green Giraffe was mandated by the project company to assist in the creation and negotiation of a bankable corporate, commercial and technical structure for the Northwind (previously Eldepasco) project in Belgium. Jointly owned by sponsors Aspiravi and Colruyt (via its dedicated Parkwind subsidiary), Northwind holds the concession to the Lodewijk Bank area in the Belgium exclusive economic zone, for an offshore wind farm of up to 216 MW.
Project highlights
- 216 MW offshore wind farm fully commissioned on June 30 2014
- EUR 0.85 billion
- Approximately 40 km off the Belgian coast in the North Sea
- Will produce over 800 GWh of electricity per annum
Financing highlights
- EUR 595 million in long term facilities
- Transaction closed on 28 June 2012
- First offshore project with the Vestas V112 turbine to be financed on a non-recourse basis
- First offshore wind project for ONDD (Belgium), GIEK (Norway) & PensionDenmark (debt)
Awards
- 2012 European Offshore Wind Deal of the Year (Euromoney)
- 2012 Renewable Deal of the Year (PFI/ThomsonReuters)
Unfortunately, 2012 proved to be a rather fallow year for offshore wind (…) Northwind bucked this trend (PFI Yearbook 2013, p.96)
Click here for the project website
