Typhoon Offshore clears final hurdle for 600-MW Gemini wind scheme

Dec 5, 2013 - Netherlands-based firm Typhoon Offshore said yesterday the path for the development of its 600-MW Gemini wind project in the North Sea had been cleared after the only ongoing appeal against the scheme was withdrawn.

The appeal was submitted by fishing associations in the north of the Netherlands which feared they might face fishing restrictions due to the position of the export cables that connect the turbines to the harbour of Eemshaven. However, the permits for the wind farm state that third parties will be allowed to continue using the area so no restrictions would be imposed on the fishermen. Now the permits for the 600-MW wind project are irrevocable, Tycoon Offshore said.

Construction of the Gemini wind park, off the coast of the Netherlands in the North Sea, is expected to begin at the end of 2014, with commercial operation planned for 2017. German Siemens (ETR:SIE) will supply equipment for the project, and will also operate and maintain the installation. Typhoon estimates that the facility will be able to meet the power needs of 785,000 households annually, once up and running.

In August, Typhoon said that Canadian Northland Power Inc (TSE:NPI), Siemens Project Ventures, Van Oord NV and HVC would participate as equity sponsors in the project. Danish pension fund Pensionkassernes Administration (PKA) agreed to pour DKK 900 million (USD 164m/EUR 121m) into the scheme earlier this week.

(DKK 1.0 = USD 0.183/EUR 0.134)

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