CPower

About CPower

C-Power NV operates as the developer and operator of Belgium's first offshore wind farm, a significant asset in the European renewable energy landscape. The company was established in 1999 with the specific purpose of developing, constructing, and operating a wind farm on the Thornton Bank, approximately 30 kilometers off the Belgian coast in the North Sea. This strategic location provides strong and consistent wind resources.

The development of the Thornton Bank project was a multi-year, multi-phase endeavor with a total investment of €1.3 billion. After securing the necessary permits and concessions in 2003, C-Power commenced construction in 2007. The project was executed in three distinct phases. The first pilot phase, completed in 2009, involved the installation of six 5 MW turbines. The second and third phases followed, with the final of 54 turbines installed in 2013, bringing the total capacity to 325 MW. This facility now generates approximately 1,000 GWh annually, enough to power around 300,000 households and offset about 415,000 tonnes of CO2 emissions per year.

C-Power's business model is that of an independent power producer. Its revenue is generated through the sale of the electricity produced by the Thornton Bank wind farm. The company has secured long-term power purchase agreements, including one with Atlas Copco Airpower, ensuring a stable revenue stream. Following the completion of the construction phase in 2013, the company's focus shifted from development to the long-term operation and maintenance of the wind farm, a phase projected to last until at least 2034. C-Power is owned by a consortium of industrial, financial, and public shareholders. Key investors include DEME Concessions, a specialist in marine engineering, and several investment companies representing Belgian municipalities and regions such as Z-Kracht, Socofe, and Nuhma. International energy firms like RWE Renewables and EDF Renewables are also part of the ownership group.