The Dutch province of Friesland has agreed to invest up to €127m in the 320MW Fryslan offshore wind farm at Ijsselmeer lake.
A cooperation agreement between Friesland and the wind farm developers was signed today.
No money will be released until the construction of the wind farm starts, which is expected to be in the second half of 2018.
The region will invest up to €20m in the share capital of Windpark Fryslân, the company set up to develop the project, and provide up to €80m in the form of a subordinated loan.
A further €27m is available as a reserve facility in case the park’s costs are higher than planned.
The 89-turbine wind farm is expected to generate its first power in 2021.
Image: Morgue File
