Sumitomo Corporation acquires stakes in two Belgian offshore wind farms
Sumitomo Corporation announced on July 18 the agreement with Parkwind, a Belgian offshore wind company, to take shares in two offshore wind farm projects off the coast of Belgium.
The two offshore wind projects consist of Belwind 1, in operation since late 2010 and Northwind which is currently under construction.
The Belwind project is located on the Bligh Bank in the Belgian Exclusive Economic Zone of the North Sea, approximately 46km off the coast of Belgium and has a production capacity of 165MW.
The Northwind project is also located in the North Sea, on the Lodewijk Bank, approximately 37km off the Belgian coast and will enjoy a capacity of 216MW. The project cost for Belwind 1 was €650 million and the project cost for Northwind is expected to be approximately €900 million.
Once completed, the two wind farms will compose of over 127 wind turbines manufactured by Vestas. The electricity generated is sold through long term agreements to Electrabel and corresponds to the needs of approximately 370,000 households.
Sumitomo will acquire a 39.0% stake in the Belwind 1 project and a 33.3% stake in the Northwind project. Parkwind and Sumitomo will also work together on the development of the Belwind 2 project, a 165MW offshore wind farm adjacent to the Belwind 1 wind farm.
The Belgian projects will be the first offshore wind farm project that Sumitomo has undertaken worldwide. Sumitomo has extensive experience in the operation of onshore wind farms. Sumitomo has a total power generating capacity of 6,129 MW, of which 524 MW are wind assets.
Parkwind's shareholders are the Colruyt Group, Korys NV, the investment holding of the Colruyt family, and PMV.
- Colruyt Group operates in the food and non-food distribution sector in Belgium, France and Luxembourg. The Group has sales of over €8.3 billion.
- Korys, the family holding of the Colruyt family, enjoys a diversified portfolio of investments.
- PMV is a Flemish investment company. It focuses on the sustainable economic development of Flanders (the Flemish Region of Belgium). PMV manages a portfolio of EUR 900 million in assets.
Country news
-
-
July 26, 2013
Egis awarded concession for Ostend-Bruges and Antwerp airports in Belgium
Belgium's government has awarded French engineering group Egis a concession contract to manage two of the main airports in Belgium. Egis will provide operations for Ostend-Bruges International Airport and Antwerp International Airport for a 25-year term. Read more -
September 02, 2013
Three teams submit bids for Liege tram PPP project
According to 7Sur7, the Société Régionale Wallonne du Transport (SRWT) received last Thursday bids from three out of four teams qualified for the final stage of the tender process for the design, financing, construction and maintenance of the first tram line in the city of Liege, Belgium. Read more -
September 25, 2013
INPP acquires 25% stake in Northern Diabolo Project in Brussels
International Public Partnerships Limited (INPP), the listed infrastructure investment firm, has announced that it has acquired the remaining 25% interest in the Northern Diabolo Project not already owned by it from HSH Nordbank. Read more -
October 21, 2013
DG Infra and Eiffage complete prison PPP project in Belgium
Dutch prisonBenelux-based Infrastructure investor DG Infra and Eiffage last week announced the inauguration of the new prison facility in Marche-en-Famenne, the first facility in Belgium to be realized by way of a Public Private Partnership model. Read more -
November 18, 2013
DG Infra to invest in infrastructure from its own balance sheet
In mid-2007, from their respective backgrounds as a European private equity firm and a market leader in project finance, Gimv and Belfius formed a joint venture - called DG Infra - to invest in infrastructure and related assets mainly in the Benelux. Read more
