Two Dutch companies operating in the food and agro industries, Plukon and De Heus, have decided to buy electricity from Ecowende, a joint venture of Shell, Eneco, and Chubu, that owns the offshore wind farm which will be built at Hollandse Kust West (HKW) Site VI in the Netherlands.
Rabobank’s new guarantee product, PPAssurance, made the power purchase agreements (PPAs) possible by allowing Eneco to offer long-term contracts for green electricity to companies, including those without a credit rating.
Wind farm and solar park developers are signing multi-year contracts with businesses to ensure that their sustainably generated energy is sold. Usually, they work with companies with a credit rating to minimise the risk but through Rabobank’s new guarantee product, PPAssurance, businesses without credit ratings can now buy green power from wind farms and solar parks too, said Eneco.
Shell and Eneco secured the development rights for Hollandse Kust West VI in December 2022. Last year, the joint venture unveiled plans for the 760 MW offshore wind farm to be built “in harmony with nature, with minimal impact on birds, bats, and marine mammals”.
In February 2024, Google signed corporate power purchase agreements (CPPAs) with Shell and Eneco for 478 MW of energy capacity at two offshore wind farms the partners jointly own in the Netherlands: Hollandse Kust Noord and Hollandse Kust West VI.
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The offshore wind farm, which will be built approximately 53 kilometres off the coast of IJmuiden, will comprise 54 wind turbines.
The project is scheduled to become operational in 2026, when it is expected to produce enough renewable energy to meet around three per cent of the current demand for electricity in the Netherlands.