SOURCE: Industrial Info Resources

August 12, 2009 05:02 ET

European Union Saves 330-Megawatt Belwind Windfarm, an Industrial Info News Alert

GALWAY, IRELAND--(Marketwire - August 12, 2009) - Researched by Industrial Info Resources (Sugar Land, Texas) -- One of Europe's largest windfarm projects has been saved by an injection of 300 million euros from the European Investment Bank (EIB) (Luxembourg), the financial arm of the European Union. The Belwind offshore wind project, which will have a power generation capacity of 330 megawatts (MW) when complete, has now obtained 546 million euros in funding, and construction will start September 1. Funding was scheduled to close in May, but the original Dutch developer, Evelop, went under when its holding company Econcern NV (Utrecht, Netherlands) filed for bankruptcy. The project is now owned by a company owned by a consortium of Belgian and Dutch investors. This is the first time that the EIB has stepped in to rescue an offshore windfarm by assuming the project finance risk.

Companies featured: Vestas Wind Systems A/S (CPH:VWS)

For details, view the entire article by subscribing to Industrial Info's Premium Industry News at http://www.industrialinfo.com/showNews.jsp?newsitemID=149252, or browse other breaking industrial news stories at www.industrialinfo.com.

IIR's Renewable Energy Database provides extensive coverage on the Wind Energy, Geothermal, Hydroelectric, Landfill Gas-to-Energy and Utility-Scale Solar power plants throughout North America, and now expanding coverage across the world.

Industrial Info Resources (IIR) is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy related markets. For more than 26 years, Industrial Info has provided plant and project opportunity databases, market forecasts, high resolution maps, and daily industry news. For more information send inquiries to powergroup@industrialinfo.com or visit us online at www.industrialinfo.com.

Contact Information

  • Contact:
    Joe Govreau
    713-783-5147