Revenue Secured

At financial close on 25 October 2006, Q7 Holding / Eneco secured the revenue arrangements underpinning the project finance for the 120 MW Prinses Amaliawindpark (Q7). Two complementary revenue streams were committed in parallel: a long-term offtake PPA with ENECO Energy Trade B.V — the Eneco group's trading arm — and a 10-year subsidy entitlement under the Dutch MEP (Milieukwaliteit van de Elektriciteitsproductie) regime for renewable energy projects. The PPA structured Eneco Energy Trade as the offtaker for the wind farm's output (approximately 400 GWh per year), enabling fixed-price revenue visibility that supported the non-recourse debt package. The MEP entitlement provided the subsidy uplift over the standard market price, locking in 10 years of regulated support that was a precondition for the senior lenders' due diligence. Together the PPA and the MEP secured the cash-flow profile that supported the EUR 230 million senior debt tranche from Dexia, Rabobank and BNP Paribas, plus EUR 130 million of equity and shareholder loans, within the EUR 383 million total investment cost. This dual PPA + MEP arrangement is the typical Dutch-market revenue construct for offshore wind during the 2003-2006 MEP-regime era, predating the later SDE / SDE+ / SDE++ tender regimes that replaced MEP from 2008 onwards.