Eneco sells Ecowende stake to Chubu Electric Power

Eneco has sold a 30% stake in Ecowende, a joint venture between Eneco and Shell, to Japanese company Chubu Electric Power.

Presently, Eneco possesses 40% of the shares in Ecowende. However, following the completion of the transaction, Eneco's ownership will decrease to 10%, while Chubu will then hold a 30% stake. Ecowende is in the process of developing a large-scale offshore wind farm situated approximately 53 km off the Dutch coast, directly west of IJmuiden. The wind farm, once constructed, will have a capacity of 760 MW, contributing to the Dutch power grid and satisfying approximately 3% of the current electricity demand in the Netherlands. The wind farm is scheduled to become operational in 2026, and the transaction is anticipated to be finalized in Q2 of 2024.