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. 
Status:
Fully Commissioned
Capacity:
110.7 MW
Location:
Belgium

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General Information
Name
Thornton Bank - phase III
Other names
Zone 1, C-Power 2
Country
Belgium
Development status
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Category or Round
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Region
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Comments
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Website
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Developers/Owners/Operators
Type
Organisation
EPC(I)-Balance of Plant
EPC(I)-Balance of Plant
Owner (26.73% stake)
Owner (11.26% stake)
Owner (9.13% stake)
Owner (11.67% stake)
Owner (9.15% stake)
Owner (11.26% stake)
Owner (20.8% stake)

Offshore Construction Starts
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Submitted For Consent
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Consent Authorised
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Financial Close
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First Power
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Full Commissioning
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Revenue mechanism
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Revenue details
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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
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Min. turbine capacity (MW)
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Max. turbine capacity (MW)
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Min. number of Turbines
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Max. number of Turbines
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Total turbine height
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Hub height
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Rotor diameter
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Foundation type
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Foundations on Wind Farm
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Foundation comments
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Location & Environment
Sea name
North Sea
Latitude
51.540272°
Longitude
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Area
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Depth range (chart datum)
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Depth range (stated by developer)
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Distance from shore (developer)
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Distance from shore (computed)
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Ports
Installation base
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Ops and Maintenance
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Grid
Number of offshore platform(s)
0
Shared platform type
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Grid connection point
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Cable landing point
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Export Cables (AC & DC)
Number of Export cables (AC)
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Average length per cable (AC)
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Additional requirements (AC)
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Nominal voltage (AC)
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Average length per cable (DC)
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Additional requirements (DC)
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Nominal voltage (DC)
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Nominal voltage
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Comments
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Onshore Cables
Number of Onshore cables
2
Average length per cable
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Comments
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Expected life
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