Northwind offshore windfarm: agreement on new shareholder structure

 

 

 

Leuven, Harelbeke, 8 May 2014 – Parkwind and the Aspiravi Group are pleased to announce they have reached a restructured deal with Sumitomo Corporation on their future shareholding and co-operation within Northwind NV.

The Northwind project is an offshore wind farm of 216MW, on the Lodewijk Bank in the Belgian Exclusive Economic Zone of the North Sea, about 37 km away from the coast. The Northwind project is currently in the latest phases of its construction, and is planned to be fully operational by this summer.

If the required regulatory and procedural approvals can be obtained, the Aspiravi Group will hold 40% in Northwind as of the end of September 2014, while Sumitomo and Parkwind will each hold 30%. The Aspiravi Group will also acquire a substantial amount of shareholders’ loans from Parkwind.

At the same time the Aspiravi Group and Parkwind will ensure the operations and maintenance of the wind farm in close collaboration as well, through a joint venture that will be created for this purpose.

Both parties, along with Sumitomo, are confident they have constructed a strong and well balanced partnership in the interest of the project in particular and in line with their individual ambitions in the Belgian offshore wind market.

The Aspiravi Group develops, invests in, realises and operates projects for producing green energy. This mainly concerns a biomass plant and wind energy projects spread throughout Belgium, in the North Sea and abroad. The total installed capacity of all installations the Aspiravi group is involved in, is 466 MW, which is the production of green electricity equivalent to an average annual use of 425,000 households. Thanks to the renewable energy produced by all installations, the emission of CO2 is reduced with 680,000 tonnes every year. 96 Belgian municipalities represented by their holdings CREADIV, EFIN, FINEG, NUHMA and the VEH (Vlaamse Energie Holding) are the shareholders of the Aspiravi Group. (www.aspiravi.be)

The current shareholders of Parkwind are Colruyt Group, Korys NV, the investment holding of the Colruyt family, and the Flemish investment fund PMV.

Colruyt Group operates in the food and non-food distribution sector in Belgium, France and Luxembourg with some 400 own stores and over 500 affiliated stores. In Belgium this involves Colruyt, OKay, Bio-Planet, DreamLand, DreamBaby, Spar and Eurospar. In France, in addition to more than 60 Colruyt stores, there are also affiliated, independent Coccinelle, CocciMarket and Panier Sympa stores. The Group is also actively involved in the food service market, the sale of fuels, printing and document management solutions and the production of green energy. The Group employs over 25,000 people and has sales of over EUR 8.3 billion. Colruyt is listed on NYSE Euronext Brussels (COLR) under ISIN code BE0974256852.

Korys is the investment holding of the Colruyt family and it holds a differentiated portfolio of investments intended to create sustainable value. The 3 P's (Planet, People, Profit) are the cornerstone of the investment strategy of Korys. In this respect, the participation of Korys in Parkwind is a perfect example of the type of investments Korys pursues.

PMV is a Flemish investment company. PMV focuses on the sustainable economic development of Flanders, with demonstrable added value for the economy and society. In this framework they are particularly interested in renewable energy. PMV has assets of 900 million EUR under management.

Sumitomo Corporation is a leading general trading company, headquartered in Tokyo, Japan, with 115 locations in 66 countries and 24 domestic locations. The Sumitomo Corporation Group consists of nearly 800 companies and more than 70,000 personnel, and its business is continuously expanding into a diverse range of products and services. Its core business units are Metal Products; Transportation & Construction Systems; Environment & Infrastructure; Media, Network, Lifestyle Related Goods & Services; and Mineral Resources, Energy, Chemical & Electronics. For more information, please visit www.sumitomocorp.co.jp.