ABB_id2059
in News Departments > Projects & Contracts
print the content item

Japan-based Sumitomo Corp. has signed an agreement with Parkwind, a Belgian offshore wind company, to purchase minority stakes in two offshore wind farm projects off the coast of Belgium.

The Belwind 1 project has been in operation since late 2010 and has a production capacity of 165 MW. The Northwind project is currently under construction and will have a capacity of 216 MW. Both wind farms feature Vestas turbines.

Under the agreement, Sumitomo will acquire a 39% stake in the Belwind 1 project and a 33.3% stake in the Northwind project through its wholly owned subsidiaries following approval from the European Commission and other authorities.

Parkwind and Sumitomo have also entered into a project development agreement to work together on the development of the Belwind 2 project, a 165 MW offshore wind farm adjacent to Belwind 1.




Hybrid Energy Innovations 2015

Trachte_id2056
Latest Top Stories

High Net-Worth Investors Claim ‘All Of The Above’ On Energy; Renewable And Otherwise

According to a recent Morgan Stanley poll, high-dollar investors favor investment in renewable energy technologies, such as wind and solar.


U.S. Wind Power Installations Surpassed 4.7 GW Last Year, Although China Still Leads

Bloomberg New Energy Finance reports that U.S. wind installations came back in a big way from a disappointing 2013.


IRS Specifies Performance, Quality Standards For Small Wind Turbines

The Internal Revenue Service (IRS) recently issued guidelines creating safety and performance standards for small wind turbines to be eligible for the 30% investment tax credit.


Hot Times North Of The Border: Canada Tops Previous Record For Installed Wind Capacity

For the second consecutive year, Canada's wind market has bested the country's previous mark for new installations.


Report: Policy Uncertainty Fuels Market Exodus As Firms Bolt North American Wind Industry

The global wind energy supply chain has yet to recover from the slump that began in 2013. In fact, many segments are undergoing a transformation, according to market research firm FTI Consulting.

Hybrid Energy Innovations 2015