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October 3, 2019

Zuiderzeewind’s Windpark Fryslân in Netherlands secures funding

The province of Fryslân in the Netherlands and ten banks have agreed to provide financing for Windpark Fryslân, which is onwed by Zuiderzeewind.

The province of Fryslân in the Netherlands and ten banks have agreed to provide financing for Windpark Fryslân.

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Wind Power Market seeing increased risk and disruption

The wind power market has grown at a CAGR of 14% between 2010 and 2021 to reach 830 GW by end of 2021. This has largely been possible due to favourable government policies that have provided incentives to the sector. This has led to an increase in the share of wind in the capacity mix, going from a miniscule 4% in 2010 to 10% in 2021. This is further set to rise to 15% by 2030. However, the recent commodity price increase has hit the sector hard, increasing risks for wind turbine manufacturers and project developers, and the Russia-Ukraine crisis has caused further price increase and supply chain disruption. In light of this, GlobalData has identified which countries are expected to add the majority of wind power capacity out to 2030. Get ahead and download this whitepaper for more details on the current state of the Wind Power Market.
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Located six kilometres off the Frisian coast, Windpark Fryslân will be a 382MW near-shore windfarm. It is being built by Zuiderzeewind, a consortium comprising Van Oord and Siemens Gamesa Renewable Energy (SGRE).

Windpark Fryslân project director Anne de Groot said: “We are proud to be able to realise a wind park that contributes over 70% to the Frisian objective for sustainable energy, supplies sufficient energy for all Frisian households.”

The company noted that the preparatory work at the site has already started for the construction of Windpark Fryslân, which is the world’s largest windfarm to be built on a lake. Siemens Gamesa will supply 89 wind turbines with 4.3MW capacity for the project.

Van Oord already started conducting soil investigations in 2018 and installed ducts at Breezanddijk for power cables that connect the wind turbines to the transformer station.

The company noted that construction works for a power station have already begun at Breezanddijk and the power cables installation works on the Afsluitdijk have also been initiated.

Once operational in 2021, the wind facility is expected to generate enough power that will be sufficient to power around 500,000 households in the region.

Additionally, the windfarm is expected to help Frisian province in meeting 70% of its target of 530.5MW of wind energy by 2020.

SGRE has also agreed to offer maintenance services to the wind project for 16 years.

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Wind Power Market seeing increased risk and disruption

The wind power market has grown at a CAGR of 14% between 2010 and 2021 to reach 830 GW by end of 2021. This has largely been possible due to favourable government policies that have provided incentives to the sector. This has led to an increase in the share of wind in the capacity mix, going from a miniscule 4% in 2010 to 10% in 2021. This is further set to rise to 15% by 2030. However, the recent commodity price increase has hit the sector hard, increasing risks for wind turbine manufacturers and project developers, and the Russia-Ukraine crisis has caused further price increase and supply chain disruption. In light of this, GlobalData has identified which countries are expected to add the majority of wind power capacity out to 2030. Get ahead and download this whitepaper for more details on the current state of the Wind Power Market.
by GlobalData
Enter your details here to receive your free Report.

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