Dutch utility Eneco has sold a 30% stake in Ecowende, a JV between Eneco and Shell, to Japanese firm Chubu Electric Power.
Currently, Eneco holds 40% of the shares in Ecowende. Following the sale, Chubu will hold a 30% stake, Eneco will hold on to a 10% stake while Shell’s 60% stake will remain untouched.
Chubu has been a shareholder of Eneco since 2020 and currently has a 20% stake. The other shares in Eneco are held by the Mitsubishi Corporation. The investment in Ecowende marks Chubu’s first direct investment in an offshore wind farm.
The transaction for the stake sale is expected to be completed in the second quarter of 2024, once all the necessary approvals have been obtained from the relevant parties.
Ecowende is developing an offshore wind farm on the Hollandse Kust West lot VI which is located some 53 kilometres off the Dutch coast, near Ijmuiden. The wind farm has a planned capacity of around 760 MW and will be fully operational and commissioned in 2026.
“[The] divestment proceeds will enable us to make new investments in renewable energy assets as part of our One Planet Plan, with the goal of becoming a climate-neutral energy company in 2035,” said As Tempelman, CEO of Eneco.
