Eurus Energy and YARD ENERGY Join Forces in Expanding Wind Energy Business
Eurus Energy and YARD ENERGY clinched a long-term collaboration for the joint development of wind farm projects. The partnership kicks off with the acquisition by Eurus Energy of a majority stake in the portfolio of operational onshore wind farms in the Netherlands and Finland developed by YARD ENERGY. Baker & McKenzie's Energy Mining & Infrastructure team acted as legal adviser for Eurus Energy in the transactions. The team is led by Weero Koster.
Eurus Energy, a joint venture between Toyota Tsusho Corporation and Tokyo Electric Power Company, is Japan's leading renewable energy company involved in the development of wind power projects throughout the world, including the United States, Uruguay, the United Kingdom, Italy, Spain, Norway, Japan, South Korea and Australia. YARD ENERGY is founded in the Netherlands and engaged in the development and management of wind power projects located in Northern Europe, including the Netherlands, Finland and Poland.
With the acquisition of the wind farm portfolio in the Netherlands and Finland, Eurus Energy expands its global operational renewable projects portfolio by 100 MW.
The Dutch portfolio consists of 9 existing wind farm projects at locations across the Netherlands aggregating to a total capacity of 72.5 MW. Windpark Netterden (12 MW) is the latest project developed by YARD ENERGY and is operational since the third quarter of 2016. The other 8 wind farm projects are operational since 2011-2013.
The Finnish wind farm portfolio consist of 2 projects ("Kankaanpäänmäki" and "Mustaisneva") combining a total capacity of 27.5 MW. These projects are realized on a turnkey basis by a joint venture between YARD and Maas Capital Renewables. As part of this transaction, Maas Capital Renewables also sold its stake in these projects.
By acquiring YARD ENERGY's wind farm projects, Eurus Energy sets foot in the Dutch and Finnish wind energy market for the first time. The newly established partnership between Eurus Energy and YARD ENERGY contributes to both companies' ambition to expand and strengthen their business in Europe.