The deal means Bard’s role will now be limited to supplier of turbines and foundations. It raises Typhoon’s equity share in the projects to 85%, with Dutch municipal utility HVC holding the remainder.
Typhoon, whose management team arranged financing at the Princess Amalia and Belwind projects, plans to sell its stake in Bard-Nederland by the time it reaches financial close in late 2011 – and hopes to do so sooner.
“It was always the intention that we would place the equity – both Bard’s and Typhoon’s – with third parties,” says
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