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Aspiravi Offshore acquires 70% of shares in offshore wind farm Northwind

By: Chloe Emanuel 19/03/2024 Aspiravi

Corporate General Windfarms

Aspiravi Offshore (which is part of the Aspiravi Group), Parkwind and Sumitomo Corporation have reached an agreement on share ownership and cooperation within the Northwind offshore wind farm. Aspiravi Offshore acquires all of Parkwind's shares in Northwind, thus acquiring 70% of the shares of Northwind. The new shareholder structure ensures a solid Belgian anchoring of the offshore wind farm.

Following the sale of Parkwind to Japan’s JERA Green in the summer of 2023, Aspiravi Offshore, which was already the main shareholder with 40% of the shares of Northwind, was able to assert its pre-emption right over the Northwind shares held by Parkwind. Aspiravi Offshore decided to exercise this right and acquires the 30% shares held by Parkwind. Sumitomo Corporation decided not to exercise its pre-emption right. Following the necessary regulatory approvals, Aspiravi Offshore thus acquires a 70% stake in Northwind. Sumitomo Corporation retains the remaining 30%. Aspiravi Offshore is one of the founders of Northwind and has increased its participation from 25% to 70% over the years.

Northwind is located in the Belgian waters of the North Sea on the Lodewijk Bank 37 kilometres from the coast. The development of the wind farm of 72 wind turbines was started in 2005, built in 2013 and operational since 2014. It has an installed capacity of 216 MW and produces green electricity for the average annual consumption of 250,000 families. Thanks to this renewable energy production, CO2 emissions of 309,000 tons per year are avoided.

In addition to Northwind, Aspiravi Group is also a shareholder within the offshore wind farms Rentel and SeaMade.

For more information about offshore wind farm projects across the globe, click here.

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Aspiravi Offshore acquires 70% of shares in offshore wind farm Northwind

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