The 309 MW Rentel offshore wind farm has reached financial close, its sponsors have announced.
The 42-turbine, €1.1 billion project will be the fifth installed in the Belgian North Sea and is expected to start generating energy in mid-2018. Project financing is being sourced from the project’s eight shareholders and a consortium of banks.
Nathalie Oosterlinck, CEO of Rentel, said: “This is a very important step in the project. Thanks to this investment we do not only contribute to achieving the international, but also the Belgian climate objectives.”
The consortium of banks behind the project include the European Investment Bank, AG Insurance, ASN Bank, Belfius, ING, KBC, KfW Ipex-Bank, Rabobank and Société Générale. Rentel itself is part of the Otary partnership, which unites a number of Belgian renewable energy firms, including Rent-A-Port Energy and Power@Sea, DEME, Aspiravi Offshore II and Elicio.
The project’s 42 wind turbines will be installed and maintained by Siemens.They will be installed 34 km from the port of Zeebrugge and will be the largest WTGs in the Belgian North Sea.
