Van Oord owns part of 1 GW Saaremaa offshore wind project in the Baltic Sea
Van Oord has acquired a stake in the Estonian offshore wind developer Saare Wind Energy. Saare Wind Energy is developing the Saaremaa offshore wind farm at an area covering up to 200 square kilometers south-west of the Estonian island Saaremaa. The area could facilitate an offshore wind farm of over 1,000 MW.
Van Oord announced its intention to participate in the project in January, with the support of the Netherlands Embassy in Tallinn and the Estonian Investment Agency. After a period of negotiation, Estonian regulators gave permission for Saare Wind Energy to apply for environmental permitting for the development in May 2020, paving the way for the project to move ahead.
Country updates
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September 23, 2020
Infracapital, AMP Capital divest Adven to institutional investors advised by J.P. Morgan
Infracapital, the infrastructure equity investment arm of M&G Plc, and AMP Capital have agreed the sale of their combined ownership interest in Adven to institutional investors advised by J.P. Mor...
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January 31, 2020
Van Oord joins development of 600 MW offshore wind in Estonia
Van Oord and Saare Wind Energy have agreed to mutually develop the 600 MW Saaremaa offshore wind farm. Saare Wind Energy is an Estonian developer involved in developing the offshore wind farm, coverin...
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May 24, 2019
Estonia refuses release of planning permit for Saaremaa offshore wind project
The Estonian Goverment has refused to release a contruction permit for the development of an EUR1.7 billion (US$1.9 billion) offshore wind farm located at the west coast of the island of Saaremaa. Th...
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January 21, 2019
EDIF II closes purchase of 85% stakes in OÜ Utilitas
The fund managed by First Investment, European Diversified Infrastructure Fund II (EDIF II), has closed the purchase of an 85% stakes in Estonian energy company OÜ Utilitas. The compan...
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November 28, 2018
European Diversified Infrastructure Fund II invests in private Estonian energy group Utilitas
The European Diversified Infrastructure Fund II SPSc, a long-term infrastructure fund managed by First State Investments, has become a financial investor in OÜ Utilitas, Estonia’s district...
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