Electrawinds' assets draw investor interest - report

Dec 5, 2013 - Belgian Electrawinds will not file for bankruptcy for the time being since the renewable energy firm's assets have attracted interest from potential buyers, De Standard daily reported Wednesday.

Local dredging firm Jan De Nul is said to be interested in Electrawinds’ biomass power plant Biostoom in Ostend, north-western Belgium. Jan De Nul is understood to have made a bid via its subsidiary Envisan after a first approach was rebuffed by Electrawinds.

A second possible candidate is Dutch utility Eneco. Electrawinds is through NV Norther partner of Air Energy, which is owned by Eneco. So, Eneco appears to be the most probable buyer of Electrawinds' 50% in NV Norther.

Another interested party is retail and wholesale group Colruyt NV (EBR:COLR), which earlier bought Eelctrawinds’ stake in offshore wind farm Northwind.

The renewable energy firm has signed a standstill agreement with banks and creditors, which is valid until December 15. According to sources in the know, the deadline could be extended by one more week, which means that the company has about 10 days to sign an agreement with interested parties.

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