Bligh Bank Offshore Wind Farm
Encyclopedia
The Belwind Wind Farm is located on Bligh Bank, 46 kilometres (28.6 mi) from the Belgian port of Zeebrugge
, and will be built in two phases. When completed, it is expected to have a 330 MW production capacity and an estimated annual output of 1.1 TWh. Phase 1 has a 165 MW production capacity.
structure by Project Company ‘Belwind’, after a number of delays that included bankruptcy of developer Econcern
. Financial close was eventually reached on July 27, 2009. Bligh Bank is only the third offshore wind farm to be Project Financed, following Q7
and Thornton Bank
. The €613 million deal sees Colruyt Group
, DHAM NV, SHV
, ParticipatieMaatschappij Vlaanderen (PMV), Meewind and Rabo Project Equity
, come together to invest in the construction of the 165 MW first stage of the Project. For the first time the European Investment Bank
will assume project finance risk for an offshore wind farm, by granting €300 million towards financing the Project.
Zeebrugge
Zeebrugge is a village on the coast of Belgium and a subdivision of Bruges, for which it is the modern port. Zeebrugge serves as both the international port of Bruges-Zeebrugge and a seafront resort with hotels, cafés, a marina and a beach.-Location:...
, and will be built in two phases. When completed, it is expected to have a 330 MW production capacity and an estimated annual output of 1.1 TWh. Phase 1 has a 165 MW production capacity.
Financing
Bligh Bank is the first stage of what is planned to be a 330 MW project. It was financed under a Project FinanceProject finance
Project finance is the long term financing of infrastructure and industrial projects based upon the projected cash flows of the project rather than the balance sheets of the project sponsors...
structure by Project Company ‘Belwind’, after a number of delays that included bankruptcy of developer Econcern
Econcern
Econcern was an international holding company, consisting of five operating companies: Ecofys, Evelop, Ecostream, Ecoventures and OneCarbon. These companies deliver solutions for renewable energy and carbon credits, with a mission to "ensure a sustainable energy supply for everyone"...
. Financial close was eventually reached on July 27, 2009. Bligh Bank is only the third offshore wind farm to be Project Financed, following Q7
Princess Amalia Wind Farm
The Princess Amalia Wind Farm is an offshore wind farm in the Netherlands. Prior to its official opening, it was known as the Q7 Wind Farm.-Specifications:...
and Thornton Bank
Thorntonbank Wind Farm
The Thorntonbank Wind Farm is an offshore wind farm, off the Belgian coast, in water ranging from deep. Electricity production started in early 2009, with a capacity of 30 MW...
. The €613 million deal sees Colruyt Group
Colruyt
Etablissementen Franz Colruyt N.V. - Établissements Franz Colruyt S.A., usually known simply as Colruyt is a Belgian family company that is one of the major players in the country's retail network. Founded in 1925 by Franz Colruyt, the group today operates a number of retail brands, most...
, DHAM NV, SHV
SHV Holdings
SHV Holdings is a privately owned Dutch trading company, regarded as one of the world's largest private trading groups. SHV have interests in transport, retail, oil and financial services, including part of the Makro cash-and-carry chain.-History:...
, ParticipatieMaatschappij Vlaanderen (PMV), Meewind and Rabo Project Equity
Rabobank
Rabobank is a financial services provider with offices worldwide. Their main location is in the Netherlands. They are a global leader in Food and Agri financing and in sustainability-oriented banking...
, come together to invest in the construction of the 165 MW first stage of the Project. For the first time the European Investment Bank
European Investment Bank
The European Investment Bank is the European Union's long-term lending institution established in 1958 under the Treaty of Rome. A policy-driven bank, the EIB supports the EU’s priority objectives, especially European integration and the development of economically weak regions...
will assume project finance risk for an offshore wind farm, by granting €300 million towards financing the Project.
Status
Construction of the first phase commenced in August 2009 and was completed on 9 December 2010.See also
- Wind power in BelgiumWind power in BelgiumWind power in Belgium depends partially on regional governments and partially on the Belgian federal government. Wind energy producers in both the Flemish and Walloon regions get green certificates but not with the same conditions. In 2009 996 GWh of electricity was produced...
- List of offshore wind farms
- List of offshore wind farms in the North Sea
- Lists of offshore wind farms by country