Eurus Energy Group (“Eurus”), a leading Japanese renewable energy company, and YARD ENERGY Group (“YARD”), a Dutch-based developer of wind energy projects, jointly announced today that Eurus has acquired 6 operational wind farms in the Netherlands with a combined capacity of 32.18 MW from YARD. The 6 wind farms, consisting of 15 wind turbines in total, were developed and constructed by YARD in various parts of the Netherlands. Their combined production is sufficient for supplying renewable electricity for more than 24,000 households. The acquisition has brought the total wind capacity of Eurus in the Netherlands to 106.48 MW. Tetsuya Suwabe, Managing Director of Eurus Energy Europe, stated: “We are glad that our Dutch business has been growing steadily, thanks to the successful partnership with YARD ENERGY. We also took over the asset management of the projects from YARD ENERGY and will maintain good operations for all stakeholders.” Kevin Dijkers, CEO of YARD, added: “Eurus Energy proved to be a very good long term partner making it possible for us to keep developing wind energy projects, being our contribution to the energy transition.” Dentons, IX Wind and PwC respectively provided Eurus with legal, technical and tax advisory services, while Stek and Cees Advocaten advised YARD on legal matters and mth accountants & adviseurs provided tax advisory services for the transaction. Horst & van de Graaff Notarissen provided all notary services.
Eurus Energy Group (“Eurus”), a leading Japanese renewable energy company, and YARD ENERGY Group (“YARD”), a Dutch-based developer of wind energy projects, jointly announced today that they have achieved financial close for the construction of Windpark Deil, a 21-MW wind farm in the Netherlands. Eurus acquired the project from YARD prior to financial close. YARD will remain as a minority shareholder in the project as from start of operation. Windpark Deil is one of the three wind farms to be built near the interchange between A2 and A15 motorways in the municipality of West Betuwe in Gelderland. It will consist of five Vestas V136-4.2 MW wind turbines, which will have a hub height of 140 meters and a rotor diameter of 136 meters. Rabobank and Sumitomo Mitsui Banking Corporation will provide the debt financing for this project. Eneco Group will offtake the renewable electricity from the wind farm, which is equivalent to the consumption of approximately 26,000 households. Windpark Deil will be the second wind farm to be built under Eurus-YARD partnership, after Windpark Spui reached financial close in April 2018. Tetsuya Suwabe, Managing Director of Eurus Energy Europe, stated: “We will continue in our effort to realize more projects in the Netherlands over the coming years.” YARD has been working on the development of Windpark Deil since 2013, and will also manage the construction of the wind farm. Kevin Dijkers, CEO of YARD, commented: “After years of hard work it is good to see that our windfarm will be successfully operated by our reliable partner Eurus. The track record of Eurus as a long-term operator of wind farms throughout the world will give comfort to all stakeholders, and provide us the opportunity to continuously focus on development of new renewable energy projects contributing to the energy transition”. Stibbe, Clifford Chance, and Cees Advocaten provided legal advisory services, PwC and mth accountants & adviseurs provided tax advisory services, and IX Wind provided technical services for the transaction. Allen & Overy, DNV GL, Loyens & Loeff, and Marsh provided the lenders with legal, technical, tax, and insurance advice respectively, and Rebel audited the financial model.