Belgian offshore wind developer Parkwind could potentially enter into a partial divestment as a result of “fierce competition” and requirement for “higher investments” for new offshore wind projects.
The board of directors of Virya, Parkwind’s owner, has requested management to “assess possible strategic development options”.
These include partnerships and/or a partial divestment for the offshore wind energy activities of Virya, which it operates through its subsidiary Parkwind.
Colruyt Group, which holds a majority stake in Virya, will communicate on further developments in accordance with applicable regulations.
Virya “has the ambition” to extend its scope to other technologies (such as solar and hydrogen) and new geographies.
It cited the recent market situation, the Green Deal and geopolitical tensions (in particular the events in Ukraine) as having an impact on the “speed of the evolution” of the offshore industry.
This is resulting in a “substantial increase” in the size of offshore wind projects, resulting in a higher financial exposure of investors from the early stage of projects and an increased focus on renewable energy resulting in “fierce competition and requiring higher investments (for example in the form of entry tickets for investors) for new offshore wind projects”.