NOP Agrowind secures €350m loan for wind farm development in the Netherlands

17 February 2014 (Last Updated February 17th, 2014 18:30)

A consortium consisting of the European Investment Bank (EIB), KfW IPEX-Bank and Rabobank will provide €350m to NOP Agrowind to develop 26 new wind turbines at the existing Windpark Noordoostpolder in the Netherlands.

A consortium consisting of the European Investment Bank (EIB), KfW IPEX-Bank and Rabobank will provide €350m to NOP Agrowind to develop 26 new wind turbines at the existing Windpark Noordoostpolder in the Netherlands.

The 26 new Enercon E-126 wind turbines are part of Windpark Noordoostpolder, comprising 86 wind turbines on-shore and near-shore with a total power output of 195MW.

EIB vice-president responsible for the Netherlands Pim van Ballekom noted unlocking the potential of wind energy both improves energy security and reduces greenhouse gas emissions.

"The European Investment Bank is pleased to support the NOP Agrowind project as part of our long-term investment in renewable energy in the Netherlands," Ballekom said.

"In an average wind year, the turbines of NOP Agrowind will be able to provide power for approximately 180,000 households."

NOP Agrowind is an initiative of agricultural entrepreneurs along the Westermeerdijk and Noordermeerdijk in the north-east Polder of the Netherlands. They will together invest approximately €420m in the development of 26 wind turbines on their lands.

Construction of the NOP Agrowind project was commenced in 1994. In spring 2013, the construction process of the new phase was begun with infrastructure works for roads and hardstands. Piles have already been driven for the majority of the wind turbines.

The first turbine of NOP Agrowind is expected to commence power generation in September 2014, and the project is expected to be completed in 2016.

In an average wind year, the turbines of NOP Agrowind will be able to provide power for approximately 180,000 households. NOP Agrowind will supply power from the wind farm to Eneco.

Windpark Noordoostpolder's 86 wind turbines will generate 1.4 billion kWh of electricity, enough to provide electricity to more than 400,000 households every day.

Energy