The Belwind Wind Farm is located on Bligh Bank, 46 kilometres (29 mi) from the Belgian port of Zeebrugge, and has been built in two phases. It has a 330 MW production capacity and an estimated annual output of 1.1 TWh. Phase 1 had a 165 MW production capacity. Bligh Bank is the first stage of what is planned to be a 330 MW project. It was financed under a Project Finance structure by Project Company ‘Belwind’, after a number of delays that included bankruptcy of developer Econcern. Financial close was eventually reached on July 27, 2009. Bligh Bank is only the third offshore wind farm to be Project Financed, following Q7 and Thornton Bank. The €614 million deal sees Colruyt Group, the Colruyt family, SHV, ParticipatieMaatschappij Vlaanderen, Meewind and Rabo Project Equity, come together to invest in the construction of the 165 MW first stage of the Project. For the first time the European Investment Bank will assume project finance risk for an offshore wind farm, by granting €300 million towards financing the Project. More information...
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