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Virya Energy increases stake in Parkwind to 100%

Halle, April 28, 2020 – Virya Energy (the energy holding of Colruyt Group and Korys) and ParticipatieMaatschappij Vlaanderen (PMV) have signed an agreement concerning the acquisition of PMV’s shares in Parkwind. After the transaction, Virya Energy will hold 100% of the shares of Parkwind, alongside other participations in renewable energy companies.

Parkwind is a Belgian company active in the development, financing, construction and operation of offshore wind farms. Colruyt Group, Korys and PMV have been investing in offshore wind energy since 2009, first via Belwind and since 2012 via the participation in Parkwind. Thanks to this cooperation, Parkwind has grown into a successful developer of offshore wind farms, active both in Belgium and abroad.

After this transaction, Parkwind and PMV will continue to cooperate on the development of new offshore wind farms in the European Union. As part of this agreement, PMV is acquiring a minority stake in Arcadis Ost 1, a German wind farm being developed by Parkwind in the Baltic Sea.

The transaction is subject to customary regulatory approvals and is expected to close in the second quarter of 2020.

About Parkwind

With over 10 years of experience in developing, financing and operating offshore wind farms, Parkwind has established a unique position in the industry. With already 552 MW under operational management, Parkwind is determined to continue increasing the share of green energy through its collaborative approach with local communities, governments and suppliers. While currently installing another 219 MW in the North Sea, Parkwind’s expanding international presence includes the 257 MW Arcadis Ost 1 project in Germany and the 330 MW Oriel Windfarm project in Ireland. Applying new technologies, innovative design solutions and installation techniques, Parkwind ensures the transition to green energy respects the environment as well as all the stakeholders.

About Virya Energy

Virya Energy was founded in late 2019 by Colruyt Group and Korys to combine their respective renewable energy holdings. Virya Energy currently holds participations in Parkwind, the Belgium based company active in offshore wind energy, and in Eurowatt, a company predominantly active in French onshore wind energy but that is also present in the Polish, Spanish and Portuguese renewable energy spaces. Virya Energy focuses on the development, financing, construction and operation of renewable energy assets and has the ambition to pursue its international growth. Through the combination of its participations, Virya Energy aims to foster technological and knowledge exchange between its teams and to create economies of scale to remain an important player in the rapidly evolving renewable energy industry.

About PMV

PMV is a do-and-dare-company that is shaping the future of the Flemish economy. PMV finances promising companies from the very start, up to and including growth and internationalisation. PMV offers tailor-made financial solutions to all entrepreneurs with a good business plan and a strong management team. It does so with capital, loans and guarantees. In addition, it realises projects with and for the government and other partners that are important for prosperity and well-being in Flanders. PMV has a portfolio of 1.2 billion euros under management.

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