en.Wedoany.com Reported - Sumitomo has announced it will sell all its equity stakes in three offshore wind projects off the coast of Belgium, as part of the company's resource reallocation strategy.
The Japanese firm plans to transfer its shares in the Nobelwind and Northwester 2 projects to existing shareholder JERA Nex BP. Upon completion of the transaction, JERA Nex BP's stake in Northwester 2 will increase to 100%, and its stake in Nobelwind will rise to 80.1%. The specific assets being transferred include Sumitomo's 30% stake in Northwester 2 and its 39.02% stake in Nobelwind.
In a separate independent transaction, Sumitomo has agreed to sell its equity in the Northwind project to Publiwind, a consortium of Belgian investment companies and public institutions. This transaction is subject to regulatory approval and is expected to close within fiscal year 2026.
In terms of project scale, the Northwester 2 offshore wind farm commenced commercial operations in 2020 with an installed capacity of 219 MW. The Nobelwind wind farm, which began operations in 2017, is the second phase of the Belwind offshore wind project and has an installed capacity of 165 MW.
JERA Nex BP, headquartered in London, is responsible for the development, construction, and operation of Nobelwind and Northwester 2 through its operations center in Ostend, Belgium. This acquisition aligns with JERA Nex BP's strategic direction of holding competitive offshore wind assets in selected markets and operating them as a long-term owner.
Zlati Christov, Chief Investment Officer of JERA Nex BP, stated that the company adheres to disciplined investment and growth principles during the construction process, and this transaction solidifies its position in a portfolio of high-quality assets that are familiar and operationally experienced. He also noted that Belgium has been a core market for JERA Nex BP in offshore wind for over a decade, and the company is committed to providing safe and reliable renewable energy for many years to come through these projects.
Sumitomo stated that it has been involved in the entire process of these three projects, from development to operation, and confirmed that the projects have operated stably and profitably during its shareholding period. This asset sale is listed as part of Sumitomo's Medium-Term Management Plan 2026. According to financial arrangements, the profit or loss from one of the three transactions has been recognized in fiscal year 2025, while the profit or loss from the remaining two has been included in the forecast for fiscal year 2026.
