Dutch companies join forces for clean energy
This month YARD ENERGY and ABN AMRO teamed up to build wind parks. YARD ENERGY will manage the project and operate the wind parks, while ABN AMRO, together with co-investor YARD ENERGY, will structure the finances and provide flexible capital for the projects.
Lagerwey wind turbines
The first joint investment will be made in two parks located in central Finland which will generate 27.5 MW of power. The wind turbines will be provided by Lagerwey Wind, a wholly Dutch factory with many years of experience in delivering extremely reliable and sustainable wind turbines. Jaap Roggeveen of ABN AMRO Principal Finance: ‘We want to make an economically responsible contribution to a sustainable future while helping our clients achieve their ambitions. This partnership is a good example of how we combine these two aims.’
The bank’s innovative financing via an equity co-participation structure makes it possible for YARD ENERGY to start up quickly. Geert Hein Verbeek, CEO of YARD ENERGY: ‘Our partnership with ABN AMRO is an important step towards achieving our growth strategy in the coming years, which aims to generate more than 60 MW of clean energy in Finland in 2016.’ Lagerwey is providing state-of-the-art wind turbines. The company is using the Modular Steel Tower concept to create wind turbines with the axis placed at 135 metres, a height which makes it possible to generate considerably more energy at lower electricity costs.
First wind turbines operating mid-2015
Aart van de Pol, CEO of Lagerwey: ‘Lagerwey is proud of this order. We are the only multi-MW wind turbine producer in the Netherlands. Having worked for many years to create turbines that meet our own high standards, we can now get started with mass production.’ Construction of the first Finnish wind turbine park has begun, and the first wind turbines will start to deliver energy to the network in mid-2015. ABN AMRO and YARD ENERGY are exploring whether other opportunities for collaboration in clean energy can be created.