Thornton Bank - phase III Offshore Wind Farm

03 Feb 2021: C-Power has concluded the debt restructuring at its 325MW Thornton Bank offshore wind farm in the Belgian North Sea, advised by Green Giraffe. Senvion, its O&M service and original equipment manufacturer, filed for insolvency in 2019. Since then, the project has been operating and maintaining the farm on its own, combining both in-house expertise and outsourced capabilities from a pool of 20+ contractors. It is on that basis that the original lenders of the project have approved the restructuring, taking comfort in C-Power’s proven track record in successfully operating and maintaining the farm. Green Giraffe acted as sole financial advisor to C-Power and the sponsors on this transaction, having already assisted the project with its original financing in 2010 and its debt repricing in 2017. 
Location:
Belgium
Status:
Fully Commissioned
Capacity:
110.7 MW
4C Offshore | Location Map: Lat(51.540) Lon(2.922)

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General Information
Name
Thornton Bank - phase III
Other Names
Zone 1, C-Power 2
Country
Belgium
Development Status
Fully Commissioned
Category or Round
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Region
Comments
Website

Developers/Owners/Operators
Type
Organisation
Developer
EPC(I)-Balance of Plant
Operator
Owner
Owner
Owner

Offshore Construction Starts
Submitted For Consent
Consent Authorised
Financial Close
First Power
Full Commissioning

Revenue Mechanism
Revenue Details
Revenue
EUR 90.2/MWh (EUR 90.2/MWh)

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Power & Turbines
Windfarm Capacity
110.7 MW
Turbine Model
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Other Turbine(s) Used
Min. Turbine Capacity (MW)
Max. Turbine Capacity (MW)
Min. Number of Turbines
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Max. Number of Turbines
Total Turbine Height
Hub Height
Rotor Diameter
Foundation Type
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Foundations on Wind Farm
Foundation Comments

Location & Environment
Sea Name
North Sea
Latitude
51.540272°
Longitude
Area
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Depth Range (Chart Datum)
Depth Range (Stated by Developer)
Distance from Shore (Developer)
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Distance from Shore (Computed)

Ports
Installation Base
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Ops and Maintenance
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Grid
Number of Offshore Platform(s)
0
Shared Platform Type
Grid Connection Point
Cable Landing Point

Export Cables (AC & DC)
Number of Export Cables (AC)
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Average Length per Cable (AC)
Additional Requirements (AC)
Nominal Voltage (AC)
Number of Export Cables (DC)
Average Length per Cable (DC)
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Additional Requirements (DC)
Nominal Voltage (DC)

Nominal Voltage
Comments

Onshore Cables
Number of Onshore Cables
2
Average Length per Cable
Comments
Expected Life