The Blauwwind consortium has reached financial close on the 731.5MW Borssele 3&4 offshore wind farm in the Dutch North Sea.
Main construction work is due to start in the fourth quarter of 2019, with commercial production expected in early 2021.
Capex for construction is €1.3bn, part of which will be funded through project finance, Blauwwind said.
The project will consist of 77 MHI Vestas V164 9.5MW turbines.
Blauwwind comprises Partners Group (45%), Shell (20%), Diamond Generating Europe (15%), Eneco Group (10%) and Van Oord (10%).
Shell and Eneco Group have also secured 15-year power purchase agreements from the consortium for 50% each of the electricity generated by Borssele 3&4.
Van Oord will carry out balance of plant for the project, consisting of the engineering, procurement and construction of the foundations and array cables.
The offshore substation Borssele Beta will be designed and constructed by TenneT.
Blauwwind will receive a guaranteed price of €54.49 a megawatt-hour during the first 15 years of operation.
Image: MHI Vestas
Financial close for Borssele 3&4
By EBS