Engie is successfully developing multiple wind farms across Belgium partially under the holding structure Wind4Flanders (W4F), a public-private partnership investing in onshore wind energy in Flanders. The holding consists of Figga, Fingem, Finilek, IBE, IKA and Engie with the last one owning a share of 50%. The W4F developments are contributing towards achieving ENGIE’s ambitious 2020 goal of at least 500 MW installed capacity for the onshore wind portfolio in Belgium.
In this regard, 3E acts as Lender’s technical advisor throughout the financial close process for the Wind4Flanders Projects 3 portfolio. The complete portfolio consists of 6 wind parks spread across all Flemish provinces and levelling up to a total installed capacity of approximately 50 MW. 3E’s scope includes a full scope due diligence, including a validation of energy yield figures, TSA and O&M contract review, technical assistance and a validation of the financial model parameters. The results are reported with a Duty of Care towards the Lender.
“The development of these 6 wind projects are an important contribution towards achieving Belgium’s green energy goals and we are proud to support W4F during the financial close of this project portfolio. Having a project implementation of such a large scale further supports our believe that the Belgium wind market has reached a very mature and steady level” Naïma Vande Walle, project manager at 3E, states.
François THOUMSIN, Manager of the RES Department ENGIE Electrabel further confirms: “We are happy to have 3E on board as technical advisor for the WF4 P 3 deal. This closing is an important step for Engie as it allows us to further evolve towards our challenging target. ENGIE wants to be the leader of the energy transition. With many more projects in the pipeline we aim to run more than 500 MW of wind on-shore up to 2020 and confirm our position of first green energy producer within the Belgian RE market.”