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The European Commission has approved the acquisition of joint control by Parkwind and Summit Tailwind Belgium over Northwester 2, a project company holding a 224MW concession in the Belgian North Sea.
Belgium's Parkwind and Summit Tailwind Belgium, part of the Sumitomo Corporation, have submitted a notification of concentration to the European Commission for the acquisition of the joint control over Northwester 2.
The European Investment Bank (EIB) will support the construction of the Northwester 2 wind farm off the Belgian coast with a loan of EUR 210 million.
The European Commission has approved under EU State aid rules Belgium's support of a maximum of EUR 3.5 billion for three offshore wind projects in the Belgian North Sea.
As of 24 August, Japan-based Sumitomo Corporation holds a 30% stake in the Northwester 2 offshore wind project, developed by Parkwind in the Belgian sector of the North Sea.