Positive
Project advancing - milestone achieved
High Impact
Major milestone or critical setback
Rentel NV and its financial partners signed a financing agreement in Brussels for the 309 MW Rentel offshore wind farm in the Belgian North Sea, which includes the developer-built grid connection to shore. The project is financed by eight Belgian shareholders together with a consortium comprising the European Investment Bank and eight commercial banks (AG Insurance, ASN Bank, Belfius, ING, KBC, KfW Ipex-Bank, Rabobank and Société Générale). The European Investment Bank will provide a EUR 250 million tranche via the European Fund for Strategic Investments and a further EUR 50 million tranche guaranteed by Delcredere|Ducroire, while EKF will guarantee a EUR 208 million tranche. The overall project investment is stated as EUR 1.1 billion, with completion targeted by the end of 2018.