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Sale of the Belgium offshore wind company expected to close later this year for €1.55bn Jera has signed an agreement with Virya Energy to acquire 100% of the shares of Parkwind, the latters offshore wind energy platform. Closing of the transaction for an equity value of close to €1.55bn is expected later this year and is subject to customary conditions relating to approval by the relevant competition and other regulatory authorities. In addition, Jera and Virya will explore the possibility for Virya to re-invest in a minority stake in Parkwind’s Belgian wind farms and discuss collaboration on future opportunities within Belgium. Parkwind, an established European offshore wind developer, owner and operator, headquartered in Belgium, will provide Jera with a significant platform upon which it will grow its renewables business globally, particularly in offshore wind, the company said. Together with Jera, the combined synergy will accelerate Parkwind’s offshore wind business into markets where the Japanese developer has a presence or is already well-positioned to participate in offshore wind development as part of the global decarbonization initiatives and low-carbon fuel production business growth. This represents an exciting opportunity for Parkwind and its employees to become an ever more important player in the rapidly expanding offshore wind industry on a global scale, Jera added. Parkwind currently operates 4 offshore wind projects in Belgium totalling 771MW, is constructing the 257MW Arcardis Ost project in Germany and is developing a 4.5GW (net) pipeline of projects in Europe and beyond. Nathalie Oosterlinck, executive officer and global head of offshore wind at Jera, said: I am very happy to make this announcement today. Parkwind is a highly attractive investment opportunity and we have been impressed by the Company’s strong in-house project development, project delivery and operational capabilities, management track-record over the years as well as the quality of its asset portfolio, development pipeline and joint venture partners. For Jera, the transaction is as much about people as it is about projects and pipeline, all of which Parkwind bring in a material and meaningful way. Parkwind is highly complementary with Jeras offshore wind strategy and ambitions, and we look to empower Parkwind to deliver on our vision and strategy. Jera has the ambition to significantly advance the expansion of renewable and low carbon energy on a global scale. There is a strong strategic, cultural, and industrial fit and complementarity between Jera and Parkwind. We look forward to welcoming Parkwind to Jera and creating a world class global team. Virya Energy chief executive Paul Tummers added: I am very enthusiastic about our announcement today. As we communicated last summer, Virya had initiated an assessment of possible strategic development options for our offshore wind energy activities, operated through our subsidiary Parkwind, to ensure that it would have the best possible conditions to execute its ambitious growth plan in a rapidly changing industry. After conducting a competitive sale process over several months, Virya has signed an agreement with the candidate we believe is the best positioned to provide an exciting new home for the business, its partners, and employees. Parkwind, a leading independent offshore wind platform that has successfully grown over the last 12 years, has a very promising development potential and is supported by highly skilled and capable people. Virya believes Jera will provide Parkwind with the best assets, expertise, and support to ensure the pursuit of its successfully initiated international journey towards a decarbonated future, reinforcing its long-term global potential out of its strong Belgian base. This announcement is a strong milestone in the execution of Virya Energy’s strategy. This contemplated transaction, while being fundamentally triggered by the best interest of Parkwind, will also allow Virya together with its shareholders to increase its focus inn fit for purpose energy through investments in onshore wind energy, solar energy and green hydrogen. |
