Loyens & Loeff advised the Province of Fryslân

Loyens & Loeff advised the Province of Fryslân on its acquisition of a minority stake in the capital of Windpark Fryslân Holding B.V.

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11-10-2019

Loyens & Loeff advised the Province of Fryslân on its acquisition of a minority stake in the capital of Windpark Fryslân Holding B.V. in return for an equity investment of EUR 20,000,000. The Province of Fryslân has furthermore granted Windpark Fryslân Holding B.V. a EUR 80,000,000 subordinated shareholder loan. A consortium of ten banks provides an additional amount of approximately EUR 700,000,000.

Windpark Fryslân will develop, construct and operate a wind farm in Fryslân consisting of 89 turbines, generating 382.7MW. The wind farm is being built in the Dutch IJsselmeer south of the Afsluitdijk and six kilometres off the Frisian coast. The wind farm will generate enough sustainable electricity to power approximately 500,000 households and contributes more than 70% to the Frisian target of 530.5 MW of wind energy in 2020. Once completed, the wind farm will be the world’s largest wind farm in inland water. The first turbines of the wind farm are expected to deliver their first electricity as early as 2020. The wind farm will be fully operational in 2021.

Loyens & Loeff provided the Province of Fryslân with corporate, finance and tax advice. The Loyens & Loeff team consisted of Frank Leijdesdorff, Joukje Baur, Koen Panis, Myrthe Thomassen, Lara Haanraadts, Alexander Bosman, Renate Meijer, Erwin Bosma, Marc Custers, Max Oosterhuis, Guido Koop, Roland de Vlam and Martijn Schoonewille.