By Windpark Zeewolde, Vestas and Rabobank have closed contracts for wind turbines and financing for the Windpark Zeewolde project in the Netherlands.
A unique collaboration of more than 200 local farmers, residents and entrepreneurs from the Netherlands, Windpark Zeewolde has placed an order for 83 Vestas wind turbines totaling 322 MW for the Zeewolde wind project.
The project is situated in the suburbs of Zeewolde, near the IJsselmeer, on an area covering over 300 square kilometers.
The wind park currently consists of more than 200 turbines which will be replaced by new Vestas turbines that will produce approximately three times more electricity with less than half the number of turbines, showing the great potential in replace older turbines with modern and more powerful versions.
Rabobank will arrange the financing of the wind farm which will provide both the junior debt and a senior debt loan (approx. €500 million) for the project construction.
Thanks to its cooperative structure consisting of a broad client base of the bank, Rabobank was keen to support the funding of this initiative in addition to promoting the energy transition.
Vestas has developed a tailored solution that includes a combination of 2 MW and 4 MW turbine models and a 20-year Active Output Management (AOM 5000) service contract, capable of optimizing annual power production while meeting local constraints.
“We are convinced that we have signed strong partners with Vestas and Rabobank with whom we can now realize the wind farm construction quickly and efficiently. In October 2019 we already started with the construction of the substation and the wind farm infrastructure. This was based on the financing from our community showing the confidence and entrepreneurial spirit of our community. Now, with Vestas and Rabobank we can start the construction of the turbines.”
Sjoerd Sieburgh Sjoerdsma, managing director Windpark Zeewolde.
“I’m excited that our new customer Windpark Zeewolde, chose Vestas as partner for such a unique wind energy project in my home country. It marks a great step for the renewable power supply of the region, and together with our partners, we are looking forward to repowering Europe’s largest community owned wind farm that is also Netherlands’ largest onshore wind project.
“Leveraging customized wind energy solutions with the lowest levelized cost of energy, this repowering project, which more than 90 percent of the nearby community is backing up as shareholders, will almost triple the annual energy production.“
Nils de Baar, president of Vestas Northern & Central Europe.
“Watching tv, illuminating our houses, and nowadays working online from home: all available by the push of a button. Rabobank wants to ensure that when we press it, the consumed energy originates from renewable sources as much as possible. For that, we as a cooperative bank are willing to take financial risks if needed. Financing a wind farm of this magnitude requires months of effort from everyone involved. But it’s worth it, because this is a crucial step in achieving the goals of the Dutch Climate Agreement. Enabling the local community to profit from the revenues of park Zeewolde is a big plus and suits us as a cooperative bank.“
Pieter Plantinga, executive director project finance, Rabobank.
The wind turbine delivery is scheduled to begin in the first quarter of 2021. The completion of the entire park will take place in 2022, and it will be the largest onshore wind farm in the Netherlands and the largest community-owned wind farm in Europe. Once repowered, the Zeewolde wind project will generate electricity for more than 250.000 local homes.
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