The Gemini consortium has ordered Siemens 150 wind turbines, rated 4 MW each, for the 600 MW Gemini offshore wind park in the Netherlands. The wind power plant is to be located in the North Sea, 85 km above the coast of Groningen, and will yield 2.6 TWh/year of electricity. Construction is expected to start in 2014 and to be completed in 2017. Northland Power, a Canadian independent power producer is the main shareholder of Gemini, owning 60% of the shares; 20% are owned by Siemens Financial Services, while smaller stakes belong to Van Oord (10%) and HVC (10%), a joint venture of 48 Dutch municipalities and six water regulatory authorities.
Moreover, the European Investment Bank has approved a €587m financing for the project, which is expected to cost up to €2.8bn. The European Investment Bank will finance the project alongside Northland Power, Danish pension fund PKA and a consortium of international commercial banks.