Gemini wind farm (2017)
Gemini, a 600 MW wind farm 85 km off the Dutch coast, was one of the first projects built that far from shore. Mid-construction, its owners faced a financing shortfall and had to renegotiate loans before completing the farm with 150 turbines in 2017.
The farm came online in 2017, but the episode showed that Dutch offshore wind projects can stumble financially even after construction starts.
Later Dutch tenders drew larger, better-capitalized sponsors, and the country's offshore wind program scaled up rapidly.
OranjeWind is also far offshore at 53 km and is being built in phases. Its sponsors, RWE and TotalEnergies, are far larger than Gemini's original consortium, which reduces the financing risk Gemini exposed.
