SeaMade offshore wind farm is expected to generate enough energy to power 500,000 households in the region. Credit: KfW, Frankfurt am Main.

Dutch electricity company Eneco has signed a power purchase agreement (PPA) to buy up all power generated from the Belgian offshore wind farms Seastar and Mermaid (SeaMade).

SeaMade, which is jointly owned by the Otary consortium (70%), Engie Electrabel (17.5%) and Eneco (12.5%), has recently achieved financial close of €1.3bn.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Germany’s KfW IPEX-Bank has also participated in the financing of the SeaMade project, where it has agreed to provide €160m debt capital.

In addition to KfW IPEX-Bank, the European Investment Bank (EIB) and the Danish export credit agency EKF were also involved in the financing, along with 14 commercial banks.

Eneco noted it has concluded a long-term PPA with the other shareholders regarding the supply of energy and the agreement is in line with the company’s growth strategy.

"Upon completion in 2020, the Belgian offshore wind farms are expected to generate enough energy to power 500,000 households in the region."

With a combined capacity of 487MW, SeaMade construction works will begin from next year off the coast at Zeebrugge.

Upon completion in 2020, the Belgian offshore wind farms are expected to generate enough energy to power 500,000 households in the region.

The project will feature Siemens Gamesa’s 58 wind turbines, which are claimed to be the largest turbines in the world with a mast of 109m and a rotor diameter of 167m.

Eneco chief strategic growth officer Kees-Jan Rameau said: “We aim for growth with respect to customers, sustainable energy and smart energy services. These areas are strongly interrelated.

“For example, as a result of the acquisition of Eni last year, we welcomed a large number of new customers in Belgium. I am proud that, in time, this long-term agreement will allow us to supply them with green power that is completely generated locally.”