Friday, October 5, 2018

Financial close signals start of construction of 219 MW Northwester 2 Offshore Wind Power Plant

Northwester 2 is proud to announce it has reached the official close of financial agreements with all key stakeholders and banks for the construction of a 219 MW offshore wind farm. This project will be the sixth Belgian wind farm in the North Sea and will be built 50 km off the coast of Ostend.

For Parkwind it means the commencement of the construction of its 4th offshore wind power plant, which it will realize in partnership with the Japanese industrial group Sumitomo Corporation.

The project has raised app. EUR 700 million funded by its shareholders and trusted financial institutions. The European Investment Bank is committing 210 million euro as part of its support for investments in renewable energy, partially guaranteed under the Juncker Plan. The Danish export credit agency EKF guarantees 100 million euro of that facility.

The commercial lenders involved are BNP Paribas Fortis, Rabobank, Sumitomo Mitsui Banking Corporation, ASN Bank, Belfius Bank, Triodos Bank, ING Bank, Société Général and KBC Bank.

With its financing secured, the project plans to start the construction works in the spring of 2018.

Peter Caluwaerts, Project Director: “Northwester 2 is expected to be completed in the first half of 2020 and will have a capacity of 219 MW generated by 23 Vestas V164-9.5MW turbines. The installation will be able to generate 818,60 GWh of electricity annually, enough to cover the energy consumption of 220.000 households.”

Earlier this year total offshore wind energy in Belgium reached a generating capacity equivalent to the full energy consumption of 1 000 000 households.

Parkwind’s CEO’s François Van Leeuw and Eric Antoons congratulate the hard work of the Parkwind teams and shareholders, government officials, suppliers, lenders and advisors, “allowing us to feed some positive energy into a market environment that has no choice but to embrace renewablesParkwind’s ambition is to export its industrial concept worldwide.”

The vast experience of the Parkwind team builds on the success of the Belwind, Nobelwind and Northwind wind farms. The Northwester 2 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.

Northwester 2 has contracted the services of Jan de Nul for the fabrication and installation of foundations and for wind turbine installation. The wind equipment will be supplied by MHI Vestas Offshore, offering its V164 9.5MW technology. The Offshore High Voltage Station designer and fabricator Bladt, the Inter array cable manufacturer NSW and the Export Cable manufacturer Nexans complete the list of key suppliers.

Marsh and Profin have developed an insurance portfolio subscribed by lead insurer Codan.

Loyens & Loeff on behalf of the project and Jones Day as lenders’ counsel were the legal advisors on this transaction.

Mott McDonald was appointed as the lenders’ technical advisor.

Thursday, May 3, 2018

Parkwind acquires Arcadis Ost 1

Parkwind NV, one of Europe’s leading independent offshore wind developers, acquired 100% of KNK GmbH, the owner of the Arcadis Ost 1 concession that was awarded a project of 247 MW in the Baltic Sea by the German authorities. The former shareholders, led by WV Energie AG, teamed up with Parkwind to prepare this successful bid in the German 2018 auction.

The Arcadis Ost 1 wind farm will generate enough energy to power 290,000 households. The project is located approximately 19 km northeast of the island Rügen, within the 12-nautical mile zone.Parkwind NV is a Belgian company investing, developing, building and operating offshore wind farms since 2009. To date, Parkwind is operating its successfully developed and constructed wind farms in the Belgian North Sea – Belwind, Northwind and Nobelwind – totalling up to 546 MW. A fourth Belgian project, Northwester 2 (224 MW), targets financial close in 2018 to be fully operational in early 2020.The Arcadis project follows the 2017 acquisition of the Irish Oriel wind farm (330 MW) and thereby re-affirms the international growth ambitions of Parkwind.

Eric Antoons and François Van Leeuw, co-CEO’s of Parkwind:

“We are delighted to take our first steps in the German offshore market, a pioneering country with a strong investment climate. We are looking forward combining our expertise with the experience of all relevant stakeholders in this market in making this project a success. After the acquisition of Oriel in 2017, this is our second step of many to come in growing Parkwind internationally. Together with Northwester 2, Parkwind has now established a development pipeline of 800 MW and aiming for more. We are constantly on the lookout for challenging projects and for the right partners to make them happen. Strong partnerships, in combination with our value proposition, have proven to be a successful formula in this increasingly competitive sector.”

Heinrich Bettelhäuser, CEO of WV Energie AG (previous majority shareholder of KNK Wind GmbH):

“We thank Parkwind for the great and straightforward cooperation in the last months to prepare a competitive bid for the German auction.”

Tilo Vogdt, Head of Business Unit Offshore at WV Energie AG (previous MD of KNK Wind GmbH):

“I’m happy about the result of the auction, finishing a 10-year development phase.”

Thursday, May 3, 2018

Northwester NV signs contract with Bladt Industries A/S

Bladt Industries has entered into a contract with Northwester NV for the delivery of a complete and fully installed substation to the forthcoming Belgian project Northwester 2 Offshore Wind Farm. The contract is a turnkey contract (EPCI contract), which includes everything from design to final installation.

With the overall responsibility for the entire project, Bladt has entered into a close cooperation with their long-term cooperation partners Semco Maritime, who will be responsible for the electrical systems and ISC Engineering, who are responsible for carrying out the structural design.This is the third time Bladt Industries with Semco Maritime and ISC as partners is to deliver a complete substation to the developer Parkwind. In 2013, the Northwind substation was delivered and only three years later, Bligh Bank – both projects as EPCI contracts.The substation will be delivered in the third quarter of 2019, which is 17 months from entering the contract to completion.

“We are proud of the trust Parkwind shows us by placing yet another order at Bladt. Throughout the first two projects, we have had an absolute positive cooperation, and we are sure this excellent cooperation will continue on the Northwester project. Our previous collaboration will contribute to an efficient execution of the project” says Troels Jensen, Senior Vice President, Bladt Industries.

“With 22 offshore substations on the reference list, the key to our success must be found in our many years of experience, competencies and very extensive know-how within the field. It is important that we always benefit from our experience, and that we continuously build on our experience and optimize the processes, ” says Klaus Steen Mortensen, CEO, Bladt Industries.

“We are pleased that we again have the opportunity to work closely with Bladt, and with this project we have the full potential to take full advantage of our engineering skills” says Frank Holm, Vice President, Semco Maritime.

NorthWester 2, controlled and developed by Parkwind NV. Parkwind is the leading owner and will be in charge of, among other things, the construction of the park including the substation. The substation is expected to have a total weight of 1,000 tons. The park will be installed in the Belgian part of the North Sea about 46 km off the Belgian coast. The park will have a total of 224 MW.

Wednesday, April 25, 2018

Parkwind and MHI Vestas Join Forces for Northwester 2 in Belgium

With installation planned for late 2019, Northwester 2 is set to become the world’s first offshore wind park with the record-setting V164-9.5 MW turbine.

The offshore wind industry will look to Belgium for its first glimpse at the V164-9.5 MW turbine, the most powerful available wind turbine in the world.The 224 MW Northwester 2 project, the fourth collaboration between Parkwind and MHI Vestas, will comprise 23 turbines and provide enough clean energy to power 220,000 Belgian homes.

Co-CEO’s of Parkwind, Eric Antoons & François Van Leeuw, said, “The Northwester 2 timing and general schedule is very challenging in the light of the timing wanted by the Belgian government. This challenging timeline has played an important role in the choice for MHI Vestas as turbine supplier having the capability of delivering the V164-9.5 MW. Parkwind is very delighted to have MHI Vestas for the fourth time as a partner.”

Both companies attribute the fast installation timetable, set for late 2019, to the industrialisation of offshore wind in Belgium, a highly collaborative approach, and supply chain readiness.

MHI Vestas CEO, Philippe Kavafyan, said, “We are delighted to sign our fourth project with Parkwind – and it is a historic one. The first commercial installation of the world’s most powerful available turbine, the V164-9.5 MW, will be a Parkwind project, which is significant for our company and a notable milestone for the industry.”

Highlighting the positive impact of offshore wind on local communities in Belgium, the project promises to provide more than 1,000 direct and indirect jobs during the construction phase and 100 long-term jobs for operations and maintenance.

The conditional order announcement, which includes a service agreement, comes as the government has recently announced it will double offshore wind capacity in Belgian territorial waters, up to 4 GW by 2025

Tuesday, April 24, 2018

Colruyt Group (Eoly), Parkwind and Fluxys join forces in power-to-gas

Eoly, part of Colruyt Group, Fluxys and Parkwind have set up a collaboration to boost the sustainability of the energy landscape in Belgium. The ambition is to build an industrial-scale power-to-gas installation that converts green electricity into green hydrogen that can be transported and stored in the existing natural gas infrastructure.

Industrial-scale project to boost Belgium’s hydrogen economy

With the project, Eoly, Parkwind and Fluxys are taking a new step towards solutions for a low-carbon future. In an initial phase the feasibility of the installation will be more closely examined. Unlike demonstration projects elsewhere in Europe, Eoly, Parkwind and Fluxys envisage to realise in Belgium one of the first industrial-scale power-to-gas facilities. The aim is to build a power-to-gas installation that can convert several megawatts of electricity into green hydrogen which can be marketed as carbon-free fuel or feedstock. Pascal De Buck, CEO of Fluxys: “Our aim with this project is to unlock green gas as an additional renewable energy source alongside wind and sun, making our infrastructure an instrument for greening natural gas.”

Compensating for fluctuations in renewable energy generation

Renewable energies like solar and wind trigger variability in electricity production. As the renewable power generation park will continue to expand in the future, increasing variability will become a major challenge. This project aims to offer a solution for the latter. The partners will explore the possibilities with the power-to-gas installation to offset the variability of power generation through (offshore) wind energy and provide support services to the power grid. This way, the installation will constitute a link optimising how the gas and power systems complement and reinforce each other.

Reduce carbon output of transport, heating and industrial processes

Green hydrogen can be transported and stored in the existing natural gas infrastructure and in this way reduces the carbon output of natural gas as energy for heating, transport and industry. Moreover, green hydrogen can also be used as carbon-free energy or feedstock in transport, logistics and industrial processes, for example in the chemical industry. Stephan Windels, Business Unit Manager of Eoly: “Colruyt Group is already investing heavily in hydrogen for logistical and mobility-related applications. In addition, it also wants to make its natural gas consumption greener and this cooperation marks a step in this direction.”

Friday, October 27, 2017

Northwester 2 to deliver 224 MW offshore energy by 2020

Today Northwester 2, a 224MW offshore windfarm in the Belgian territorial waters, reached an agreement in principle with the Belgian authorities on the applicable support scheme. This allows the project to accelerate its development activities and to prepare for financial close in 2018 and construction by 2020.

With this agreement the Belgian government and Northwester 2 respond to the need for affordable offshore wind in the energy mix of the future. It brings Belgium a step closer to achieving the European 20/20 Climate targets. The lower cost for the consumer will be made possible thanks to the experience of Parkwind, the engagement of its shareholders, strong supply chain and the clear commitment taken by the Belgian government.Recently Parkwind strengthened its position in the shareholdership of Northwester 2 to successfully lead the development and construction of the project and secure the long term operational maintenance.


Wednesday, October 4, 2017

Irish and Belgian team to deliver Ireland’s first commercial scale offshore Wind Farm

Parkwind, one of Europe’s leading offshore Wind Farm developers, has agreed a significant investment to become a strategic partner in the Oriel Wind Farm – the 330 MW offshore wind project proposed for the North Irish Sea.  Oriel Wind Farm is the front runner of Ireland’s offshore wind projects and this partnership strengthens Oriel’s ambition to become the first of a new generation of offshore windfarms in operations by combining the executional excellence of Parkwind with the strength of the existing Irish shareholders.  Ireland has a vast offshore wind energy potential, that is about to be developed in the coming decade. The location of the future Oriel Wind Farm can benefit from an excellent wind resource, shelter from high wave loads and has favorable water depths and good seabed conditions. As Pioneer, the Oriel Wind Farm is considered in Ireland as an exemplary project for the offshore wind industry in the Irish market and will provide green energy for 250.000 Irish homes.

Brian Britton, founder and board member of Oriel Wind Farm states: “In our search for a strategic partner, several international offshore wind players were interested in acquiring a stake in Oriel Wind Farm. Our choice for Parkwind is driven by the strong track record and values the company Parkwind stands for. We believe that Parkwind can bring in the necessary knowledge and pioneering spirit to bring this project to a successful end.”In the past years, Parkwind has successfully developed and constructed 3 offshore windfarms located in the Belgian concessions zone in the North Sea. These windfarms, that are also operated by Parkwind today, provide around 550 MW of green energy to the Belgian market. When starting up the Nobelwind Wind Farm in May this year, Parkwind expressed its ambition to export its knowledge and experience in the development, construction and operation of offshore windfarms outside its home market. Parkwind takes the crucial first step in fulfilling this ambition with the acquisition of Oriel Wind Farm.

Parkwind co-CEO François Van Leeuw states: “Parkwind has a firm ambition to grow internationally. After the successful development and construction of 550MW in the North Sea, we were able to shift our focus quickly to evolve from an experienced but strictly Belgian to an international player in the offshore wind industry. The challenge and opportunity of realizing the first offshore windfarm in Ireland matches perfectly with our entrepreneurial and solution driven company culture.”

Aside from its international ambitions Parkwind also aims to build the Northwester 2 project, a 224 MW offshore windfarm in the Belgian territorial waters, in 2020. Together with the 330 MW of the Oriel Wind Farm, Parkwind plans to have more than 1000MW of offshore wind production capacity operating by 2020, substantially contributing to the 20/20 European targets of sustainable energy.

Parkwind believes it can support the Irish government in establishing the Irish offshore wind industry, while generating economic activity and employment over the entire lifetime of the project. In recent years offshore wind has become an important part of the energy mix of the future and main driver in reaching the European targets of sustainable energy.

Oriel Project Director Peter Caluwaerts says: “We are confident we can play a vital role for the emerging Irish offshore wind industry. It is our ambition to finalize the construction of the Oriel Wind Farm in 2020, thus assisting Ireland in reaching its 2020 renewable energy targets. To achieve such ambitious timeline, we will immediately invest in the development of the Wind Farm and set up a full-scale project team, consisting of our own experienced people from Parkwind on the one hand and dedicated Irish professionals on the other hand”

Thursday, July 14, 2016

Last Nobelwind foundation pieces arrived at the port of Ostend

The last 10 foundation components for the Nobelwind project arrived to the port of Ostend on 7 July.

For the past few months the REBO terminal at the port of Ostend has been serving as the heart of the installation activities for the Nobelwind project.

Nobelwind will have an installed capacity of 165MW and is expected to meet the energy demands of 186.000 Belgian families annually.

The last 10 foundation components for the Nobelwind project arrived to the port of Ostend on 7 July.For the past few months the REBO terminal at the port of Ostend has been serving as the heart of the installation activities for the Nobelwind project.

Nobelwind will have an installed capacity of 165MW and is expected to meet the energy demands of 186.000 Belgian families annually.

Friday, April 22, 2016

Scour protection finished on Nobelwind Project

On 08/06 the works for the installation of scour protection (First phase) around the 51 foundations of the Nobelwind project are finished.

The erosion protection consists of a light filter layer (first phase) and a heavier coating layer specifically designed for various locations and water depths. This protection will remain stable for the next 25 years both in deeper than shallower zones.

Wednesday, March 23, 2016

Nobelwind announces the start of the construction of a 165 MW offshore windfarm in the North Sea.

Nobelwind announces the start of the construction works of the 4th offshore wind farm in the Belgian territorial waters. The first activities will be performed in the harbor of Oostende, on the REBO site, that will be used as a Marshalling harbor for the Nobelwind project. Nobelwind has installed its offshore grid which is operational and connected to the Zeebrugge sub-station of Elia.

The shareholder consortium around Nobelwind consists out of the Japanese conglomerate Sumitomo, the Dutch investor Meewind and Parkwind. Parkwind is in charge of the coordination of the construction works.

Nobelwind has appointed Jan De Nul as EPCI contractor to install all foundations and the 50 3.3 MW MHI Vestas windturbines offshore. These turbines will have an installed capacity of 165 megawatt (MW) and will supply green power to 186.000 Belgian families on a yearly basis.

The start of the works is running according to planning. The first foundation components are expected to arrive in the harbor of Oostende on March 23. As of the end of March the project expects additional foundation components to be delivered on site every 2 to 3 weeks. The REBO Site will be used for final assembly of the foundations. The cranes and other equipment needed to perform the assembly works will be installed in the coming days on site by the different contractors.

The first installation offshore is expected to start early May. By that date the installation vessel will pick up the different foundation components and prepare for installation offshore. The installation of all foundations is expected to last until the beginning of September, this depending on the weather conditions.