HVC takes a stake in largest sustainable energy project in the Netherlands - HVC Groep

HVC is acquiring a 15% interest in the 600 MW BARD-Nederland wind farm in the North Sea located 55 kilometres to the northeast of Schiermonnikoog.

The deal was announced Friday January 14 2011 by HVC General Manager Wim van Lieshout and Typhoon Offshore board member Dirk Berkhout, who has responsibility for the wind farm’s financing and contracts.

Future
With this involvement, the first stone has been formally laid for the financial foundations underpinning the BARD-Nederland wind farm. HVC is clearly expressing its confidence in the future of the offshore wind farm.

Financing framework
According to Dirk Berkhout, "Investors will see a quicker return on their investment in this wind farm than is normally the case, and that return will also be higher than usual. That is the result of a new financing framework we’ve developed."

Prime example
"The effect has been to lower the cost of financing. Consequently, among other things, it will be possible for more parties with an interest in sustainable energy to acquire a stake in our offshore wind farm. A prime example is HVC, which is a public utility serving the interests of municipalities and water districts."

Last opportunity
"We are currently engaged in discussions with other parties, including, for example, financial institutions and publicly traded corporations. We are seeing heightened interest in the possibilities of investing in this new wind farm. For the time being, our project offers the last opportunity to invest in a wind farm in the Dutch portion of the North Sea."

Public participation
"Our participation in the BARD-Nederland wind farm is consistent with our goal of contributing to a sustainable society and supporting municipalities and water districts in their efforts to meet their climate objectives", says Wim van Lieshout. "It is quite likely that there will be additional public participation in the wind farm", he continues.

Climate objectives
"A number of public parties have expressed their interest to me in participating in the project. They see an investment in an offshore wind farm as a way to achieve their climate objectives sooner and more easily."

145,000 households
As a public utility in the field of sustainable waste management and energy production, HVC produces 500 GWh of sustainable electricity from waste, enough to supply the needs of 145,000 households.

Sustainable energy
Wim van Lieshout: "At the end of 2010, we acquired a small interest in an offshore German wind farm. With our share in this 600 megawatt Dutch offshore wind farm, we are doubling our annual production of sustainable energy. Savings on CO₂ emissions are even greater."

About Typhoon Offshore
Typhoon Offshore B.V. is a green investment company specializing in the construction of offshore wind farms in the North Sea. Typhoon Offshore is managing the structuring and financing of the BARD-Nederland wind farm, 55 kilometres northeast of Schiermonnikoog.
The Typhoon Offshore team previously oversaw the arrangements for the construction of the Belwind and Princess Amalia wind farms. Typhoon Offshore is a subsidiary of Typhoon Capital BV, which was established in 2009 by Dennis Lange and Dirk Berkhout.