Dutch energy supplier Eneco has announced ambitions to double its solar and wind capacity to 2500MW in the next five years.
The company it is committed to growing value from “demand-supply steering in an increasingly complex and more decentralised energy system”, on the publication of its 2020 financial results.
In 2020 Eneco’s earnings before interest, tax, depreciation and amortisation (EBITDA) rose to €484m and net profit to €118m, up 13% and 48% respectively, versus 2019.
The company added 202MW of sustainable energy capacity in 2020, which included the start-up of the Blauwwind and Seamade offshore wind farms off the coast of Belgium, in which Eneco holds an equity interest and from which it procures electricity under a PPA.
Eneco also secured new wind projects, including the 760MW Hollandse Kust Noord offshore wind project, with Shell and the 100MW Maasvlakte 22 onshore wind project.
With the progress made with projects in 2020, Eneco said it is on track to achieve its goal to have more than 2GW of renewable energy sources in operation by the end of 2022.
Eneco CEO As Tempelman said: “On behalf of the management board, I want to express my heartfelt gratitude and appreciation for the tremendous mental resilience and dedication that our employees have shown.
“Thanks to their wonderful care for each other and for our customers, we managed to maintain a low accident rate and a high customer satisfaction, and that remains paramount in everything that we do, now and in the future.”
Eneco Belgium also obtained environmental permits in 2020 to construct wind farms in Hannut, Turnhout, Beerse, Arendonk and Herentals.
Work on building the wind farms in Boneffe, Fauvillers and Neufchateau started in 2020.
Existing wind turbines at various locations were replaced, many by new turbines offering more capacity.
Having been connected to the grid in June 2019, in 2020 the Norther offshore wind project was officially completed and refinanced.
Eneco is also conducting research with Cooperatie Deltawind and Hygro Energy on the use of green hydrogen as a source of energy for households.
In this project, the energy generated by a wind turbine will be converted and stored as hydrogen through electrolysis and transported to households through a pipeline.