Utrecht, Friday 21 December 2007 - Today the Q7 offshore wind farm delivers the first sustainable electricity to the Dutch national electricity grid and therefore to the Dutch sustainable energy users. The Q7 wind farm, which lies offshore in the North Sea near IJmuiden, is owned by ECONCERN and ENECO Energie. With a maximum production of 435.000.000 KWh per year, the wind farm can deliver enough electricity for around 125,000 Dutch households, reducing CO2 emissions by 225,000 tonnes. 

Of the 30 turbines that have been fully installed thus far, seven are now actually delivering electricity. The contractors are continuing to work on the farm during the winter months, so that the number of turbines generating electricity will steadily increase. All 60 turbines, with a maximum capacity of 120MW, are expected to be connected to the grid at the end of the first quarter of 2008. The official opening of the offshore wind farm will be in the second quarter of 2008.

Dirk Berkhout, Member of the Board ECONCERN: “With regard to our mission, a sustainable energy supply for everyone, we largely invest in offshore wind farms in countries such as the United Kingdom and Belgium. From our contacts with the other big European players, it appears that they will not invest in activities in the Netherlands. This is a missed opportunity for the Netherlands.”

Jeroen de Haas, Chairman of the Board ENECO Energie, says: “Wind at sea can make a substantial contribution to achieving the targets in the Dutch energy and climate policies. The North Sea is very suitable for offshore wind farms and offers the Netherlands space for about 6,000 MW of capacity, or 20% of the Dutch power consumption. It is crucial that the government sets clear targets and formulates a consistent policy, so that the Netherlands can attract more sustainable investments.”

Note for the editor
Q7 wind farm: furthest from the coast, and in the deepest water
The Q7 offshore wind farm lies about 23 kilometres off the coast of IJmuiden, in block Q7 of the Dutch continental shelf. The 60 Vestas V80 wind turbines, each with a capacity of 2 MW, stand in 19 to 24 metres of water. Of all the world’s wind farms, Q7 is at present the furthest from the coast and in the deepest water.

Project with a unique financial structure
Q7 is the first offshore wind farm to be financed on the basis of ‘non-recourse project finance.’ This means that the banks involved (Dexia, Rabobank and BNP Paribas) trust that the revenues from the wind farm will fully cover the interest and principal, without requiring any additional guarantee from the shareholders. This is an important milestone in the world-wide development of offshore wind farms. The financial model developed for Q7 has since been applied to other offshore wind farms.

ECONCERN (www.econcern.com)
ECONCERN’s mission is ‘a sustainable energy supply for everyone’. ECONCERN consists of operating companies Ecofys, Evelop, Ecostream and Ecoventures. Together these deliver unique projects, innovative products and services to ensure a sustainable energy supply. ECONCERN, which employs around 900 professionals in 19 countries across the world, was ranked No. 234 in Europe’s top 500 listing of high growth, job-creating companies in 2007. 

ENECO Energie (www.eneco.nl)
ENECO Energie is one of the three leading power supply companies in the Netherlands. ENECO has a strategy of integrated distribution: it is active in the production, transmission, trading, delivery and consumption measurement of energy (electricity, gas and heat) and related products and services. In total it serves about two million commercial and domestic customers. In 2006, ENECO has a turnover of €4.3 billion and a net profit of €311 million. ENECO employs approximately 5,000 people, who work mainly in the provinces of South Holland and Utrecht. The head office is in Rotterdam.