Elicio and Nethys Group’s acquisition of a 25% stake in the Norther wind farm by Diamond Generating Europe


Van Bael & Bellis has advised Elicio and the Nethys Group in relation to the acquisition of a 25% stake in the Norther wind farm by Diamond Generating Europe, a wholly-owned subsidiary of Mitsubishi Corporation.

Following this transaction, Norther is now ultimately owned by Elicio (50%), Eneco (25%) and Mitsubishi (25%).

With a total of 44 wind turbines and a maximum capacity of 370 MW, the Norther wind farm is expected to become the largest offshore wind turbine park within the Exclusive Economic Zone of Belgium. Each year, it will generate 1,394 GWh of sustainable energy, equal to the energy consumption of close to 400,000 households. The project reached financial close at the end of 2016 and is expected to be fully operational by the third quarter of 2019.

Van Bael & Bellis acted on the deal with a team led by partners Michel Bonne (picture) and Peter L’Ecluse.

Involved fees earner: Michel Bonne – Van Bael & Bellis; Peter L’Ecluse – Van Bael & Bellis;

Law Firms: Van Bael & Bellis;

Clients: Elicio;