NIBC European Infrastructure Fund enters into a portfolio of three onshore wind farms with Electrawinds NV
NIBC European Infrastructure Fund (NEIF) has partnered with Electrawinds in a portfolio of three operational wind farms with a combined capacity of 32 MW. The wind farms are located in Belgium and France.
The wind farms are equipped with Enercon turbines and became operational in the period 2010-2011. The proven technology together with long term technical, commercial and operation & maintenance agreements provide for a high degree of reliability and operational availability of the turbines.
As developer and operator of the wind farms, Electrawinds will manage the portfolio of wind farms providing for a.o. efficient management going forward.
The Belgian and French onshore wind sectors benefit from a clear regulatory support framework and are within the core sectors of both NEIF and Electrawinds. This partnership expands on the 2008 acquisition by NEIF of part of the shares in Electrawinds Biostoom NV, a waste to energy facility in Ostend, Belgium. The strong ongoing relationship between NEIF and Electrawinds will provide for future cooperation opportunities in the wider European renewable energy market.
Luc Desender, CEO for Electrawinds NV
"In recent years, Electrawinds has implemented its strategy and has today more than 200 MW of operational projects. To facilitate further growth and capital for new green energy plants, Electrawinds opens some projects to other investors. Electrawinds remains a significant shareholder and is also fully committed to the construction and operation. In 2008, NEIF invested in the biosteam plant of Electrawinds in Ostend and we look forward to a continued good cooperation in the wind industry."
Darren Kyte, CEO for NIBC Infrastructure Partners
"Our investment in Electrawind's portfolio, together with other recent transactions, further underlines our approach as an active investor in high quality renewable energy and infrastructure assets in our core European markets. This is our second investment in partnership with Electrawinds, and illustrates our approach towards proprietary investments with key industrial partners. We look forward to further expanding our relationship with Electrawinds in the future."
Parties have agreed to not disclose any financial information concerning the transaction.