Japanese investor Sumitomo Corp has acquired a 30% stake in Parkwind’s 224MW Northwester 2 wind farm off the coast of Belgium.
The two companies will now jointly develop, construct and operate the wind farm.
Sumitomo said the total cost of the project will be about ¥90bn (€692m), which will be sourced primarily through non-recourse project finance.
Construction of Northwester 2, which will feature 23 MHI Vestas 9.5MW turbines, will start later this year, it added.
The wind farm is due online in 2020.
Image: MHI Vestas
Sumitomo buys into Northwester 2
By EBS