At the end of last week, Windplanblauw announced the starting date for the issue of up to EUR 10 million in bonds for the construction of 37 onshore wind turbines at Swifterbant. From 28 September to 18 October, Dutch residents and companies can register.
Windplanblauw is an initiative of SwifterwinT and Vattenfall and concerns an upscaling and repowering project in the northwest corner of the province of Flevoland. The current 74 wind turbines will be replaced by 61 new turbines in line position which will generate four times more power than the current turbines combined. SwifterwinT consists of more than 150 entrepreneurs, residents and turbine owners. The project received approval from the Council of State in November 2019. The wind farm is expected to become operational in 2023.
SwifterwinT has so far jointly financed the development costs of the 37 onshore wind turbines. Bonds are now being issued for the construction phase.
Up to 20,000 subordinated bonds of 500 euros in total will be issued. Residents and companies from Swifterbant and surrounding areas will be given priority in the distribution of the bonds. The project has yet to reach financial close. This is expected at the end of December this year. If this is not achieved, participants will not receive any interest. If this is achieved, the participants will receive 0.5% interest on the deposit up to financial close and 7% from financial close to the last repayment on the outstanding loan. The first interest will be paid in September 2024 and the last interest in 2032.