The Netherlands

Financial close achieved for Dutch wind farm

Certification body DNV GL has completed due diligence of the Dutch Windpark Spui for a group of lenders who are providing the debt financing for the project.
Financial close achieved for Dutch wind farm

The power generated by Windpark Spui will supply renewable electricity to more than 24,000 households and will be sold to Eneco Group, a Dutch sustainable energy company, under a 16-year power purchase agreement. The project was acquired by Japanese company Eurus Energy from Dutch-based wind energy developer YARD and its co-developer prior to financial close. It is a 21 MW facility located in the municipality of Korendijk in South Holland which will utilise five Enercon E-126 EP4 wind turbines with a hub height of 135 metres, a a rotor diameter of 127 meters and a rated power of 4.2 megawatts.

“We’d like to congratulate all the parties involved on this momentous achievement” said Prajeev Rasiah, Vice President & Regional Manager North Europe, Middle East & Africa at DNV GL. “At a time of intense focus on the wind industry, the financial close of Windpark Spui is integral to fulfilling the commitment of the province of South Holland to have 735 megawatts of onshore wind capacity installed by 2020. Our interdisciplinary and cross-border team of technical experts provided the lending consortium with comprehensive technical due diligence ahead of their investment”.

DNV GL’s team of local and international wind experts delivered the technical due diligence which featured an independent engineering review of the technical details of the project and associated contractors and companies, including appraisal, environmental permits, civil and electrical design as well as the environmental site conditions, energy production assessment, construction and operations contracts and financial model.

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