Colruyt seeks more backers for Northwind offshore project

Northwind will use Vestas turbines

Belgian supermarket Colruyt is searching for additional investors for the 216MW Northwind offshore project, as the ill financial winds blowing across Europe pick up strength.

Last year Colruyt stepped up its stake in Northwind to 66.7%, with Belgian wind developer Aspiravi holding the remainder, as part of an ownership shake-up that saw the other two investors – Electrawinds and Depret – divest their shares.

The backing of Colruyt – which benefits from a strong balance sheet and healthy cash flow, and which also owns a minority share in the Belwind project – has been seen as a major vote of confidence in Belgium’s offshore wind sector.

But with the supermarket on the hook for a major…

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