Loyens & Loeff advised Belwind and Northwind on the acquisition of part of their shares by Sumitomo Corporation and Aspiravi
Sumitomo Corporation acquired a 39.02% stake in the Belwind project from Parkwind. The Belwind offshore wind farm is located on the Bligh Bank in the Belgian Exclusive Economic Zone of the North Sea, approximately 46km off the coast of Belgium and has a production capacity of 165 MW. The Belwind project has been in operation since late 2010.
In addition, Sumitomo Corporation and Aspiravi acquired respectively a 40% stake and a 30% stake in the Northwind project from Parkwind. The Northwind offshore wind farm is also located in the North Sea, on the Lodewijk Bank, approximately 37km off the Belgian coast and has a capacity of 216 MW. The construction of the Northwind project was completed at the end of June 2014 and is now in operation.
The Loyens & Loeff team consisted of Marc Vermylen (Lead Partner), Thomas Chellingsworth (Partner), Koen Panis (Senior Associate), Christine Delagaye (Associate) and Robbert Jacobs (Associate).
The other parties were represented by Allen & Overy (Dexia Credit Local and Sumitomo), Dentons (Sumitomo), Eubelius (Aspiravi), NautaDutilh (Parkwind) and White & Case (BNP Paribas Fortis).