BARD and Typhoon Offshore Partners in Offshore Wind Farms

  • Business & Finance

BARD Holding and the Netherlands based green investment firm Typhoon Offshore have signed an agreement to jointly build windfarms on the North Sea. BARD Holding will focus mainly on the technical realization of the wind farms and Typhoon Offshore mainly on the structuring and financing thereof. Dr. Stephan Bormann, deputy managing director BARD Holding GmbH and Michael van der Heijden, managing director Typhoon Offshore B.V., announced this today.

The wind farms are located in the North Sea, 80 kilometers north east of the island Schiermonnikoog, adjacent to the German border. The wind farms are permitted, and earlier this year were granted the Stimulering Duurzame Energieproductie (Stimulation Renewable Energy Production, or SDE) subsidy for offshore wind energy. Two wind farms will be built in first instance, with a total installed capacity of 600 MW. With 120 turbines, the wind farms will produce green electricity for 1.5 million Dutch consumers, leading to a 1.4 million ton CO2 saving. The wind farms are referred to as “Buitengaats” and “ZeeEnergie”.

Partnership

The partnership is the result of a Letter of Intent concluded earlier this year by BARD and Typhoon Offshore after Typhoon Offshore was involved in the SDE tender. The tender was awarded to BARD.

The partnership brings together two areas of expertise required to build offshore wind farms: technical and financial competence.

Dr Stephan Bormann: “With Typhoon Offshore on board, we have secured the most actual expertise with regards to structuring and financing offshore wind projects. The Typhoon Offshore team has achieved several landmark innovations, which have set the standard in the wind energy sector”.

Michael van der Heijden: “Since its incorporation, BARD has independently achieved many technical innovations, which is a testament of its strong commitment to the industry. The BARD 5 MW wind turbine is state of the art technology, and excellently suited for the generation of offshore energy”.

About BARD

Founded in September 2003, BARD Engineering GmbH was the first company that purely focused on developing, installing and operating offshore wind parks. In 7 years time, the company has developed into a unique turn-key supplier of offshore wind parks that is involved in all stages of the value chain: the development of offshore wind parks; the manufacturing of wind turbines, rotor blades and Tripile foundations, specifically designed for offshore use; the offshore installation of wind parks; and the operational management of offshore wind parks. The company has opted for this integrated approach as it is the most cost effective solution and as up to now, the BARD-Group employs approximately 1.300 employees, with headcount expected to grow rapidly in line with the expansion of business.

About Typhoon Offshore

Typhoon Offshore B.V. is a green investment firm specialized in the realization of offshore wind farms in the North Sea. The Typhoon Offshore team previously structured the financing of Belwind, the wind farm located off the coast of Belgium, and the Princes Amalia Wind Farm, off the coast of The Netherlands. Typhoon Offshore is part of Typhoon Capital B.V., which was established in 2009 by Dennis Lange and Dirk Berkhout.

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Source: typhooncapital, November 02, 2010;

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