Eneco has agreed to sell a 30% share in Ecowende, a joint venture established by Eneco and Shell, to the Japanese company Chubu Electric Power. Presently, Eneco possesses a 40% stake in Ecowende, but following the completion of the transaction, this share will reduce to 10%, while Chubu will then hold a 30% interest.
Ecowende is actively engaged in the development of a large-scale offshore wind farm situated approximately 53km off the Dutch coast, directly west of IJmuiden. This wind farm, designed to be environmentally friendly, is set to contribute 760MW to the Dutch power grid, meeting approximately 3% of the current electricity demand in the Netherlands. The wind farm is anticipated to be operational by 2026.
Eneco plans to reinvest the proceeds from the sale into other renewable energy projects, aiming to expedite the ongoing energy transition. The completion of the transaction is anticipated in the second quarter of 2024, pending approval from relevant parties, including competition authorities.
CEO of Eneco, As Tempelman, commented “I am very pleased with Chubu’s participation in Ecowende. Our strategic partnership is much valued, and this arrangement will intensify our collaboration in the offshore wind business. Furthermore, the divestment proceeds will enable us to make new investments in renewable energy assets as part of our One Planet Plan, with the goal of becoming a climate neutral energy company in 2035.”
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