The Provincial Executive of the northwestern Dutch province of Friesland and the developers of the 320 MW Friesland offshore wind park in the Netherlands have reached an in-principle agreement on an investment in the project.
The Provincial Council will decide on the agreement after submission on April 19. The deal will be signed officially by May 15, subject to the council's consent.
The province and the wind farm developers signed a memorandum of understanding (MoU) in November 2016. The past months were spent in examining what form the province's financial participation of up to €127 million (USD 136.3 million) should take. The province wants some controls to safeguard public interests due to the ownership of a minority stake.
Construction is expected to commence in the second half of 2018. At this point, when the overall project financing has been completed, the investment will be made. This is the first time a Dutch province will participate directly in a wind project.
The wind park will comprise 89 turbines erected in the northern part of the IJsselmeer lake. It is expected to deliver power to the grid in 2021. Development of the wind farm is being managed by Ventolines BV.