Sumitomo Announces Strategic Divestment of Belgian Offshore Wind Portfolio
In a recent strategic move, Sumitomo has agreed to divest stakes in three offshore wind projects located off the Belgian coast. This decision is part of a broader effort to reallocate its resources in line with long-term investment goals.
The Japanese company’s divestment includes its interests in Nobelwind and Northwester 2, which will be sold to JERA Nex BP. The transaction will reaffirm JERA Nex BP’s 100% ownership of Northwester 2 and elevate its stake in Nobelwind to 80.1%. Additionally, Sumitomo’s 30% share in the Northwind project will be transferred to a consortium comprising Belgian investment firms and public institutions, pending regulatory approval.
Northwester 2, operational since 2020, boasts a substantial installed capacity of 219MW. Meanwhile, Nobelwind, which commenced operations in 2017, currently operates an 165MW facility. JERA Nex BP, headquartered in London, manages both projects from its Ostend, Belgium operations hub.
The deal reflects JERA Nex BP’s commitment to focusing on competitive offshore wind assets. Sumitomo stated that the move aligns with the firm’s emphasis on disciplined investments and strategic long-term ownership. The company highlighted Belgium’s central role in its offshore wind progress over the past decade and expressed its dedication to delivering reliable renewable energy for years to come.
