Eneco signs 2 PPAs for Ecowende with Rabobank guarantees

Dutch utility Eneco this week said that two Dutch companies have signed long-term contracts for green electricity from the 760-MW Ecowende offshore wind farm thanks to a new guarantee product introduced by lender Rabobank.

The new product, called PPAssurance, has enabled Plukon and De Heus, companies active in the food and agro industries, to purchase power from the Ecowende project, which is currently being built by Eneco and partners offshore the Netherlands. Rabobank’s guarantee product allows businesses without credit ratings to enter into multi-year contracts with wind and solar park developers.

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Energy dealer Scholt Energy will be responsible for the actual delivery of the wind power. The volume of the contracts was not specified.

“We need innovative solutions to meet the ever-growing demand for energy and the government’s targets for wind energy at sea,” Eneco stated.

In May, Japan’s Chubu completed the acquisition of a 30% stake in Ecowende. The project’s existing PPAs include a deal with Google.