Clifford Chance

Clifford Chance advises Eurus Energy and YARD ENERGY to construct, finance and operate three wind farms totaling 155 MW in Groningen, the Netherlands

Eurus Energy Group (“Eurus”), a leading Japanese renewable energy company, and YARD ENERGY Group (“YARD”), a Dutch-based developer of wind energy projects, jointly announced that they have achieved financial close for the construction of Windpark Mauve, Windpark Mondriaan and Windpark Vermeer, with a combined capacity of 155 MW, in the province of Groningen in the Netherlands. Eurus acquired the projects from YARD prior to financial close. YARD will remain as a minority shareholder in the projects. Clifford Chance was lead counsel and responsible for the due diligence, project documents, shareholder agreements and the project finance transaction.

Windpark Mauve and Windpark Mondriaan will be built near the Port of Delfzijl and will consist respectively of seven and nine Vestas V136-4.3 MW wind turbines. Both projects will be financed by Rabobank and Sumitomo Mitsui Banking Corporation. Windpark Vermeer will be located approximately 20 km to the south of the two other wind farms, and will also be financed by the two banks, together with ABN AMRO Bank and BNG Bank. Eneco will offtake the renewable electricity from all three wind farms, in an amount equivalent to the annual consumption of approximately 200,000 households.

The three wind farms will bring the total wind capacity of Eurus in the Netherlands to 303 MW by 2021, when all three wind farms are expected to start operation.

The Clifford Chance team that advised Eurus and YARD was led by Hein Tonnaer and furthermore consisted of Liesbeth Buiter, Jasper Dijkshoorn, Lotte de Bruin, Charlotte Smit, Joris Dortmans, Mark-Jan Arends, Arwin Lok, Laura Stegeman, Charlotte Horsten and Sam Akkersdijk. Clifford Chance Amsterdam is proud to have advised Eurus and YARD since 2017 on the five projects that are listed in the overview below.

Overview of the wind farms