Belgium’s Northwind NV has confirmed that formal financial close, with all key stakeholders and banks, has been achieved for its Northwind offshore wind farm.

This now paves the way for commencing the construction of the wind farm, which will be located 37 km off the coast of Oostende in Belgium.

Northwind’s complex and difficult financial process started back in November 2011.

According to Northwind’s CEO Frank Coenen, today’s investors are looking for solid projects developed by a stable and trustworthy team, and says Coenen Northwind is one such solid project.

Coenen sees this financial close as a vote of confidence by its banks, contractors and investors in both the sustainable energy sector and in the Northwind project.

The construction of Northwind is set to start early in 2013. Once completed, it will have the capacity to generate 216 MW from 72 Vestas V112-3.0MW turbines.

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