Parkwind invites citizens to invest in offshore wind farms
Parkwind, Belgian offshore wind farm developer owned by retail group Colruyt, and the Flemish investment company PMV, is offering citizens to participate in green energy developments at sea. Every Belgian citizen can invest up to 1.250 euros in shares, getting a gross yearly return of 4,24%.
A dividend of 4,24%
By founding the North Sea Wind cooperation, the offshore wind energy company wants to raise 20 million euros this way. The association will lend the money to Parkwind over seven years.
The return, estimated between 5,5 and 6,5% will flow back to North Sea Wind. After deducting costs, they will distribute a gross profit of approximately 4,24%. The dividend is exempted from taxes up to 800 euros.
Lots of demand
Private persons already could buy shares in several cooperatives for other energy projects on land. But it is one of the first times offshore wind energy comes into the picture, a branch that requires enormous investments of one billion or more that used to be ‘reserved’ to institutional investors until now.
“There is a lot of demand for possibilities to invest in renewable energy these days,” says Parkwind co-CEO, François Van Leeuw, in newspaper De Tijd. “We don’t need this 20 million right away to finance our growth, but we want to create a broad social basis for offshore wind. If the average citizen’s investment is 1.000 euros, we count on 20.000 of them.”
A quarter of shares for employees
Citizens can sign in on the cooperation’s website until September 21st unless the ceiling of 20 million is reached earlier. Remarkable is that employees of the Colruyt group, the family’s investing holding Korys, and PMV get priority in this and one-quarter of all shares are reserved for them.
Today, Parwind is managing the offshore wind farms Belwind, Northwind and Nobelwind with a joint capacity of 550 MW, enough to provision 600.000 households with green energy. Next year, Northwester II will be ready with an extra 220 MW. Parkwind is also participating in the Irish Oriel and the German Arcadis Ost 1 wind projects.