Electrawinds crisis forestalled

Electrawinds' Croix des Trois Chesnots wind farm in France

Electrawinds' Croix des Trois Chesnots wind farm in France

Electrawinds, owner of partial stakes in a number of key Belgian offshore wind projects, pulled back from the brink of bankruptcy last night, although its future remains highly uncertain.

Electrawinds, the prolific Belgian renewables developer, and a member of the Otary offshore wind consortium, last week issued a statement saying that if a deal could not be reached to increase its near-term liquidity, the company would file for insolvency on 2 December.

Late last night, however, Electrawinds’ board said that it would hold off on pulling the plug while it evaluated several proposals on the table that might save the company, or parts of it.

The decision was based in part on "indications" that "interested parties" may buy some of the company's assets, easing its liquidity Log in to read complete article.

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