Nobelwind OWF Good to Go

Belgian Nobelwind offshore wind project has reached financial close, securing approximately EUR 655 million from investors and financial institutions, the project company Nobelwind SA confirmed to Offshore WIND this morning.

The company, comprising Belgian offshore wind developer Parkwind NV, Japanese Sumitomo Corporation and Dutch investment fund Meewind, said the project is now ready to enter the construction phase, which is scheduled to start in spring 2016.

The 165 MW Nobelwind offshore wind farm is expected to be completed in the second half of 2017 and will feature 50 Vestas V112-3.3MW turbines installed some 45 km off the coast of Ostend. It will be able to generate 651 GWh of electricity annually, enough to supply the equivalent of 186.000 homes.

“The project will use the latest technology and equipment, greatly increasing the chances of the project meeting optimal conditions for safety and timely delivery within the planned budget,” Nobelwind SA said.

The main contractor for the project is Jan de Nul, which is in charge for the supply and installation of foundations, as well as the installation of wind turbines, which will be provided by MHI Vestas Offshore Wind.

Bladt Industries will supply the Offshore High Voltage Station (OHVS), while DeepOcean will install the inter array cables to be produced by Prysmian.

An electricity purchase agreement has been signed with EDF Luminus.

The project is funded by the European Investment Bank (EIB), which provided EUR 250 million, BNP Paribas Fortis, Rabobank, Sumitomo Mitsui Banking Corporation and Mizuho Bank, as well as Danish and Norwegian export credit agencies EKF and GIEK. Subordinated debt is provided by the shareholders and by PMF Infrastructure Fund, the infrastructure investors TINC listed on Euronext and DG Infra Yield, the project company said.

Image: Nobelwind/Illustration