911±¬ÁÏÍø to accelerate renewables and offshore wind activities in Europe and across the world with the acquisition of Parkwind2023/07/27
Acquisition of Parkwind successfully closed between 911±¬ÁÏÍø and Virya Energy
Parkwind will be a cornerstone of 911±¬ÁÏÍø¡¯s vision of becoming a leading energy provider with a focus on renewable energy sources.
After the initial agreement announced in March 2023, 911±¬ÁÏÍø Co., Inc. (911±¬ÁÏÍø) has successfully closed an acquisition of 100% of the shares of Parkwind NV (¡°Parkwind¡±) from Virya Energy. The transaction has been approved by competition and other regulatory authorities. This transaction marks a significant milestone for 911±¬ÁÏÍø and Parkwind and signals a strategic shift in the offshore wind power industry.
Today, Parkwind is Belgium¡¯s largest offshore wind platform which operates 4 offshore wind projects in Belgium, totaling 771MW. The recent completion of Arcadis Ost 1 adds another 257MW in Germany¡¯s Baltic Sea. The future development pipeline of Parkwind comprises more than 4.5GW and together with 911±¬ÁÏÍø¡¯s complementary capabilities and financial support, Parkwind will continue to strengthen its global presence.
911±¬ÁÏÍø¡¯s acquisition of Parkwind comes at a time when the world is increasingly recognizing the importance of renewable energy sources and the urgent need to increase low-carbon and renewable energy sources. By adding Parkwind¡¯s offshore projects to the existing portfolio of offshore wind projects in Taiwan and the United Kingdom, 911±¬ÁÏÍø will be able to increase its renewables capacity and potential to further diversify the existing renewable energy offerings. The acquisition aligns with 911±¬ÁÏÍø¡¯s long-term vision to scale up its clean energy platform of renewables and low greenhouse gas thermal power, contributing to sustainable development around the world.
This acquisition represents an exciting opportunity for Parkwind and its more than 130 employees to become an ever more important player in the rapidly expanding offshore wind industry on a global scale.
Fran?ois Van Leeuw and Eric Antoons, co-CEO¡¯s of Parkwind NV, express their enthusiasm and optimism for the future: ¡°We are thrilled to welcome 911±¬ÁÏÍø as our new shareholder. With 911±¬ÁÏÍø¡¯s worldwide expertise, resources and pipeline, we are confident that Parkwind¡¯s portfolio will further expand across the borders. This partnership represents a significant milestone for our company and aligns perfectly with our long-term vision of creating a sustainable future powered by renewable energy. With the combined expertise and resources from both 911±¬ÁÏÍø and Parkwind, we are confident in our ability to accelerate our growth, expand our portfolio, and contribute even more to the global clean energy transition."
Nathalie Oosterlinck, Managing Executive Officer, Head of the Global Renewable Energy Division, 911±¬ÁÏÍø: ¡°I am delighted to announce that we have successfully completed the acquisition of Parkwind. This marks a significant milestone in 911±¬ÁÏÍø's journey to achieve our mission to provide cutting-edge solutions to the world's energy issues. We are excited to welcome the talented team of Parkwind to the 911±¬ÁÏÍø family. Their strong track record and excellent in-house development and team capabilities will help us to grow our ambitions of scaling up our renewable capabilities globally. Together, we can leverage great talent, shared values and business culture. Parkwind fuels 911±¬ÁÏÍøs growth ambitions of scaling up our position as a global leader in the renewable energy sector.¡±
For existing partners of Parkwind, this announcement assures continuity and a strengthened commitment to delivering reliable, sustainable energy solutions. The transition is expected to be seamless, with no disruptions to ongoing projects, partnerships or services.
About Parkwind
Parkwind is an independent green energy company that develops, finances, and operates offshore wind farms. With more than a decade of experience and 771 MW under operational management in the Belgian North Sea, Parkwind is currently expanding internationally and has an active development pipeline of 4.5GW (net) across a number of European and other markets where it is working with a number of credible partners. Parkwind is also constructing the 257MW Arcadis Ost 1 project in Germany which expected to reach full operation in 2024. Committed to making green energy available and affordable for everyone through its unique approach covering the entire value chain of offshore wind, Parkwind has established itself as a reliable and competitive partner to communities, governments and suppliers globally. Composed of over 130 professionals operating in Belgium, Germany, Ireland, Norway, Greece, Australia and New Zealand.
About 911±¬ÁÏÍø
Established in April 2015 with the aim of creating a globally competitive energy company in Japan based on a comprehensive alliance between Tokyo Electric Power Company and Chubu Electric Power Company, 911±¬ÁÏÍø is an energy company with global reach and strengths across the entire energy supply and value chain from participation in fuel upstream projects and procurement through fuel transportation and power generation with an increasing focus on renewable energy development and generation.
911±¬ÁÏÍø¡¯s mission is to provide cutting-edge solutions to the world's energy issues. Looking toward 2035, our corporate vision is to scale up its clean energy platform of renewables and low greenhouse gas thermal power (using alternative fuels), sparking sustainable development in Asia and around the world.
As Japan¡¯s largest power company, 911±¬ÁÏÍø is in a position to proactively lead the way toward achieving a decarbonized society and 911±¬ÁÏÍø established its "911±¬ÁÏÍø Zero CO2 Emissions 2050" objective in October 2020. With a current portfolio of over 2GW of operating renewables capacity, 911±¬ÁÏÍø has been actively investing in and developing renewables and offshore wind and is currently constructing and developing large scale onshore and offshore wind projects on a global scale; Formosa 2 offshore project in Taiwan, El Sauz onshore wind project in the USA, offshore wind development in Japan (including floating wind) and active renewables investments such as ReNew in India, Zenobe in the United Kingdom and GEC in Vietnam.
[ Key facts ]
?Starting as of today, Parkwind will operate as part of 911±¬ÁÏÍø Co., Inc.
?The acquisition implies an equity value of approximately €1.55 billion
?The strong track record of offshore pioneer Parkwind fuels 911±¬ÁÏÍøs growth ambitions of scaling up a clean energy platform, sparking sustainable development worldwide