Eneco
About
A Dutch integrated energy company with its registered office in Rotterdam, owned since March 2020 by Mitsubishi Corporation and Chubu Electric Power through a holding company in which Mitsubishi has 80% and Chubu 20%. Before that sale it belonged to 44 municipal shareholders. It produces electricity and heat and trades and supplies electricity, gas and heat in the Netherlands, Belgium, Germany and the UK. Its offshore wind stakes are part shares in Dutch and Belgian farms: it owns 10% of Ecowende and takes 40% of its power, and holds 20.1% of CrossWind and 12.5% of SeaMade. Under power purchase agreements it contracts more offshore capacity than it owns.
Outlook
as of 2026-10At 31 March 2026, the end of its 2025 financial year, Eneco owned 656 MW of offshore wind (410 MW in the Netherlands, 246 MW in Belgium) and had contracted the output of a further 961 MW through power purchase agreements. Its stakes include 20% of Crosswind and 10% of Ecowende, where it takes 40% of the power; Ecowende is on track to enter operation by the end of 2026, and its first turbines went in shortly after the financial year closed. The company says the offshore business case in Europe, above all in the Netherlands, has become increasingly challenging, and it has long argued for Contracts for Difference. On new capacity it is selective: it will assess bidding in the 1 GW Dutch tender opening in September 2026, and intends to bid with the Haddock Wind consortium in Belgium's relaunched 700 MW Prinses Elisabeth Zone 1 tender. Its renewable capacity target, met in 2025, is being revised.
What they've said
4 statements 2026-06 – 2026-06
- Annual Report 2025 (financial year to 31 March 2026)
“Moreover, the offshore wind business case in Europe, particularly in the Netherlands, has become increasingly challenging due to surging development and financing costs, coupled with growing revenue uncertainty under the current contracting models.”
Eneco (company report) source → - Annual Report 2025 (financial year to 31 March 2026)
“The Dutch Ministry of Climate and Green Growth has announced a call for tenders for a 1 GW offshore wind project, supported by a subsidy scheme, which will be opened in September 2026. This is a positive step for maintaining momentum in the Dutch offshore wind rollout, and Eneco will assess whether it should participate.”
Eneco (company report) source → - Annual Report 2025 (financial year to 31 March 2026)
“A new call for tenders for the same volume (700 MW) will be launched during 2026. Eneco intends to pursue the existing partnership with the Haddock Wind consortium to participate in this new tendering round.”
Eneco (company report) source → - Annual Report 2025 (financial year to 31 March 2026)
“Eneco’s strategy included a target to double its renewable energy capacity by 2025, which was achieved. The target will be revised in the course of this year.”
Eneco (company report) source →
Portfolio
8 held · live stages first, exits lastCapacity is net of ownership stake: a 50% JV counts half. Gross exposure (full nameplate of every project held): 3.36 GW.
| Project | Country | Stage | MW | Stake | Net MW |
|---|---|---|---|---|---|
| Norther | Belgium | Operational | 370 | 50% | 185 |
| Hollandse Kust Noord | Netherlands | Operational | 759 | 20.1% | 153 |
| Princess Amalia (Q7) | Netherlands | Operational | 120 | 100% | 120 |
| Borssele 3 & 4↓ farmed down | Netherlands | Operational | 732 | 10% | 73 |
| Luchterduinen↓ farmed down | Netherlands | Operational | 129 | 50% | 65 |
| SeaMade | Belgium | Operational | 487 | 12.5% | 61 |
| Ecowende (Hollandse Kust West Site VI)↓ farmed down | Netherlands | Under Construction | 760 | 10% | 76 |
| Navitus Bay Wind Park | United Kingdom | Cancelled | 970 | 50% | 485 |
Divested & farmed down
every recorded sale by this developer · newest first| Announced | Project / portfolio | Type | Stake sold | €m | Buyer |
|---|---|---|---|---|---|
| 2024-02 | Ecowende (Hollandse Kust West Site VI) | farmdown | 30% | — | Chubu Electric Power |
| 2018-01 | Borssele 3 & 4 | farmdown | 45% joint | — | Partners Group |
| 2013-01 | Luchterduinen | farmdown | 50% | — | Diamond Generating Europe (Mitsubishi) |
Ownership history comes from the transaction database; the portfolio above is the current snapshot only. "Joint" stakes are the consortium total (per-seller split not disclosed) and are excluded from the stake-weighted GW figure.