Germany’s Bard Group has sold its 70 percent share in the 600 MW Bard-Nederland offshore wind farm in the Dutch North Sea to green investment company Typhoon Offshore. Typhoon, a green investment company specializing in the construction of offshore wind farms in the North Sea, already has two successful wind farm projects under its belt. The investment firm structured the financing of the Belwind and Princess Amalia wind farms. Typhoon now holds an 85 percent stake in what will become the largest offshore wind farm in the Netherlands. The remaining 15 percent stake is held by Dutch energy provider HVC.
While it no longer has an equity stake in the project, Bard will nonetheless supply the turbines for the 600 MW wind farm. The German company will provide 120 of its 5 MW wind turbines for the wind farm located in the North Sea some 55 kilometers to the northeast of Schiermonnikoog. The transfer of the wind project fully into Dutch hands may help to quell some of the backlash over the Dutch government subsidizing what was perceived as a German project in Dutch waters. The Dutch government is providing €4.5 bn in subsidies to help realize the project.
Typhoon now holds the lion’s share of the wind farm but if things go according to plan, that will not be the case for long. Typhoon plans to sell off stakes to private investors and corporations, if possible before work even begins on the offshore project in 2012.
