The Province of Friesland and the developers of the 320MW Friesland offshore wind farm (Windpark Fryslân) have signed a cooperation agreement which, if approved by the Provincial Council, will allow the Province to invest up to EUR 127 million in the project.
The cooperation agreement has been submitted to the Provincial Council, with the decision on the deal expected to be delivered on 19 April.
If approved, the official cooperation agreement will be signed on 15 May. The agreement will allow the province to control a minority stake in the project.
This will be the first time that a Dutch province will participate directly in the development of a wind farm.
The funds will be transferred once the developers secure the funding for the entire project and the construction works start, which is expected in the second half of 2018.
The cooperation agreement is a follow-up to a Memorandum of Understanding signed between the two parties in November 2016 and approved by the Provincial Council.
The Province had already indirectly invested EUR 7 million in the project through its subsidiary Funs Skjinne Fryske Enerzjy (FSFE).
The wind farm is being developed by Ventolines BV on behalf of Windpark Friesland BV. It is located in the Frisian part of the IJsselmeer lake and will comprise 89 turbines.
The wind farm is expected to produce its first power in 2021.