Consumers enthusiastically invest in wind farms
Eneco starts registration for second project on Monday
The preregistration for bonds issued by Eneco for the Luna wind farm, which is currently being constructed in the city of Heerhugowaard, starts on 3 May. The wind farm consists of three wind turbines of 2.3 MegaWatt each and will be operational as of September in Europe’s first CO2 emissions-neutral city district: ‘Stad van de Zon’ (City of the Sun), in Heerhugowaard. The wind farm generates sufficient electricity for approximately 5,000 households.
By issuing bonds, Eneco aims to stimulate the development of wind farms in the Netherlands and to enable consumers and residents to share in the revenues from the sustainable generation of electricity from wind energy by means of participation. In other words: from NIMBY to WIMBY. From ‘Not In My Back Yard’ to ‘Wind In My Back Yard’.
Preregistration offers the opportunity to become bond holder in the fall, when the precise conditions for the bond loan will be announced. Eneco is responsible for the investment in and development, maintenance and financing of the wind farm and invests € 10 million. It is expected that consumers will deposit between 700,000 and 900,000 euro through the bond loan.
The first time that Eneco, together with Kennemerwind Wind Cooperation and Triodos Bank, offered consumers the opportunity to financially participate in a wind farm by means of bonds was last year. It concerned five of the nine turbines of the Burgervlotbrug Wind Farm at the Noorhollandsch Kanaal channel, which became operational in 2009. The cost of these bonds amounted to 1000 euro each, with an interest rate of 8% and a six year term. All of the 1600 available obligations were issued.
Nearby residents and members of the Kennemerwind Wind Cooperation were given precedence when the bonds were issued. There was considerable interest. The bond loan was even oversubscribed as a result of the huge amount of subscriptions by the members of the Wind Cooperation (1375 bonds, 263 people). The nearby residents purchased 102 bonds (18 people). This only left 123 of the requested 546 bonds for the remaining 116 subscribers. With a total investment of € 6.2 million, the Burgervlotbrug project thus demonstrates that the chosen strategy is promising.
Eneco is making good progress with the development of wind farms. In addition to its approximately 100 onshore turbines with a total capacity of 120 megawatt, Eneco can supply another 120 MW with the Princess Amalia Wind Farm at the North Sea. With its own turbines, Eneco is capable of providing 173,000 households with wind generated energy. In addition, Eneco has concluded contracts for the supply of wind energy based electricity to the amount of approximately 500 MW.