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06 October 2016

Rentel offshore wind farm reaches financial close, Belgium

The €1.1 billion Rentel offshore wind farm, located approximately 40km from the Harbour of Ostend in Belgium, has successfully achieved financial close. Mott MacDonald is lenders’ technical advisor on the project and will now provide construction and operational monitoring in an ongoing role.

The new offshore power station will consist of 42 turbines, with a total installed capacity of 309MW. The turbines will be connected to the national power grid through a series of inter-array cables, an offshore substation and an export cable. Once complete, Rentel will provide sustainable energy to approximately 285,000 households.

Having initially provided technical support to developer Rentel NV, Mott MacDonald transitioned to a lenders’ technical advisor role in early 2016 and delivered due diligence services until financial close. During this time, the consultancy provided input on important aspects of the development such as the deployment of the wind turbine platform and the use of XL monopiles, which will require the world’s largest piling hammer during their installation.

Nick Morgan, Mott MacDonald’s project manager, said: “As we were commissioned by the developer at an early stage, we were able to provide valuable input during the initial contract negotiations and design stage. This meant that the lenders’ requirements could be fed into the process and addressed early on to achieve bankability, therefore streamlining the financing process.”

“Our role on Rentel continues our long-standing involvement in the Belgian offshore wind sector. We have been involved in the four previous offshore wind farms – Belwind, Northwind, Thornton Bank and Nobelwind – to reach financial close,” Nick added.

Nathalie Oosterlinck, Rentel’s chief executive officer, commented: “We are very pleased to have worked with Mott MacDonald from early on in the development of this project. We have found a trusted and experienced partner that has contributed to the objectives of the project."

The Rentel offshore wind farm is expected to be fully operational by the end of 2018.

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