Aspiravi

What Aspiravi does

Aspiravi is a 100% Belgian renewable energy developer and B2B electricity supplier founded in 2002 and headquartered in Harelbeke. It develops, owns, and operates generation assets across four technology lines: onshore and offshore wind (410+ turbines across land and the North Sea), battery energy storage systems (BESS, including a 25 MW park under construction in Brecht), solar/PV and Agri-PV, and biomass plants that convert non-recyclable wood waste into electricity and heat. The company sells green electricity to businesses through two main products: Energy Control, a flexible formula targeting SMEs with annual consumption above 2.5 GWh, and Power Purchase Agreements (PPAs) offering fixed-price, long-duration supply to enterprises consuming more than 5 GWh annually.

Aspiravi serves enterprise customers across chemicals (Borealis, 120 GWh/yr), technology (Google), retail/apparel (Nike, Decathlon), frozen foods (Darta, with a dedicated direct-line wind turbine since 2022), public transportation (MIVB), and manufacturing (Harol, Unilin). It also enables citizen participation through three cooperative vehicles (Aspiravi Samen cv, Limburg Wind cv, Wind voor A cv), collectively representing roughly 13,000 co-investors. Its unique ownership structure, with 88 Belgian municipalities and the Vlaamse Energie Holding as shareholders, provides strong local anchoring and regulatory alignment in the Flemish market.

Geographically, Aspiravi develops projects in Belgium, France, Scotland, Spain, and Curaçao. International expansion is pursued primarily through consortium structures, including Thistle Wind Partners for the 1 GW ScotWind project in Scotland and a parallel collaboration with Deme on a separate offshore wind development. The company operates with 101–250 employees and appointed Bernard Steverlynck as CEO of the Aspiravi Groep in October 2025. Revenue is not publicly disclosed; the company is privately held with no parent and no recorded venture or private equity investment.

Name

Aspiravi

Legal name

Aspiravi nv

Website

https://aspiravi.be

Company type

Private

Founded year

2002

Operating status

Operating

Headcount range

101–250 employees

Short description

Aspiravi is a 100% Belgian renewable energy developer and B2B green electricity supplier. It operates 410+ wind turbines, BESS, solar, and biomass assets, serving large enterprises via PPAs and SMEs via Energy Control, while expanding offshore wind internationally.

Ownership category

akta.pro rank

Product category

Renewable Energy Services

NAICS

Wind Electric Power Generation (221115), Biomass Electric Power Generation (221117), Solar Electric Power Generation (221114)

SIC

Cogeneration Services & Small Power Producers (4991)

akta.pro primary industry

Onshore Wind Power Generation (Utility-Scale) (EUACAFAA)

akta.pro secondary industries

Renewable Energy Asset Management (Solar/Wind/Hydro/Geothermal) (EUAEAMAB), Wind Power Plant EPC (Onshore/Offshore) (EUAEAAAF)

Keywords

• Renewable energy services
• Wind power generation
• Power purchase agreements
• Battery storage systems
• Biomass energy production

Headquarters

HQ city

Harelbeke

HQ country

Belgium

HQ region

Europe

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Infrastructure, Operations, Personnel, Supply Chain, Technology or R&D

Revenue model

1. Green Energy Supply to Businesses: Supply of 100% Belgian green electricity to businesses through Energy Control (flexible pricing for SMEs with >2.5 GWh) and PPA (fixed price long-term contracts for businesses with >5 GWh)
2. Renewable Energy Project Development: Development, construction, and operation of renewable energy projects (wind, solar, battery, biomass) across Belgium, France, Scotland, Spain, and Curaçao
3. Offshore Wind Development: Development of offshore wind projects through consortium arrangements (Thistle Wind Partners) in Scottish waters

Pricing tiers

Go-to-market motion2 records

Distribution channels3 records

Marketing channels6 records

Core offering

Aspiravi develops, builds, finances, and operates renewable energy assets — including onshore and offshore wind farms, battery energy storage systems, solar PV, biomass plants, and Agri-PV projects — and sells the green electricity they produce to business customers in Belgium through Energy Control (flexible supply contracts for SMEs with annual consumption above 2.5 GWh) and Power Purchase Agreements (long-term fixed-price contracts for large enterprises with annual consumption above 5 GWh).

Product overview

Aspiravi is a 100% Belgian renewable energy company that operates as both an energy supplier for businesses and an energy developer. Its business-facing products are Energy Control (a flexible energy formula for SMEs with >2.5 GWh consumption) and Power Purchase Agreements (fixed-price local green energy for businesses with >5 GWh consumption). As an energy developer, Aspiravi builds and operates renewable generation assets across four technology lines: Wind (onshore and offshore, with 410+ turbines), Battery Energy Storage (BESS), Solar (Zon), and Biomass (converting non-recyclable wood waste into electricity and heat), plus an Agri-PV offering. The company also supports citizen co-investment through three co-operative vehicles (Aspiravi Samen cv, Limburg wind cv, Wind voor 'A' cv).

Differentiator

Problem solved

Functional benefit

Products and services

• Energy Control Flexible B2B renewable electricity supply contract for SMEs and mid-sized businesses with annual consumption above 2.5 GWh, providing 100% Belgian green electricity without the long-term commitment of a PPA.
• Power Purchase Agreement (PPA) Long-term fixed-price B2B renewable electricity supply contract for large enterprises with annual consumption above 5 GWh, designed to hedge against energy market volatility and support decarbonization targets. Customers include Borealis, Google, Nike, Decathlon, Darta, MIVB, Harol, and Unilin.
• Wind Energy Development Development, construction, financing, and operation of onshore and offshore wind farms, forming the largest segment of Aspiravi's renewable energy asset portfolio with more than 410 turbines in operation.
• Battery Energy Storage System (BESS) Operation of battery energy storage parks that complement intermittent renewable generation (especially wind and solar) by storing and releasing electricity to balance supply and demand.
• Solar Energy Development and operation of solar photovoltaic installations as part of Aspiravi's diversified renewable generation portfolio, complementing wind and other technologies.
• Agri-PV Agrivoltaic projects that combine agricultural land use with solar power generation on the same site, allowing dual-use of land for crops and electricity production.
• Biomass Energy Operation of biomass energy plants that convert organic biomass into electricity and/or heat as part of Aspiravi's renewable energy portfolio.

Quantifiable outcome

• 120 GWh annually supplied to Borealis from Belgian wind turbines
• +3 more outcomes

Named customers8 records

Segments3 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Six partnerships are on record, tiered core.

• Thistle Wind PartnerscoreStrategic or Co-development Partner · 3 November 2025Consortium partnership for offshore wind development. Aspiravi continues collaboration with Qair on 1GW ScotWind project following consortium reshuffle. Partnership enables participation in Scottish offshore wind development through Thistle Wind consortium.
• DemecoreStrategic or Co-development Partner · 3 November 2025Deme and Aspiravi continue collaboration on a second offshore wind project separate from Thistle Wind Partners consortium. Joint development of offshore wind infrastructure.
• Aspiravi Samen cvcoreStrategic or Co-development PartnerCooperative society enabling citizens to invest in wind energy projects. One of three cooperative partners for citizen participation.
• Limburg Wind cvcoreStrategic or Co-development PartnerCooperative society enabling citizens in Limburg region to invest in wind energy projects.
• Wind voor A cvcoreStrategic or Co-development PartnerCooperative society enabling citizens to invest in wind energy projects across Belgium.
• BorealiscoreStrategic or Co-development PartnerLong-term power purchase agreement for 120 GWh annually of renewable energy from Belgian wind turbines. Strategic partnership to help Borealis achieve 100% renewable electricity by 2030.

Scale indicators9 records

Recent moves6 records

Expansion highlights6 records

Broad incumbents

• EDF Renewables: Renewable development arm of EDF group with wind, solar, and storage operations across Europe including Belgium; competes for the same Belgian corporate PPAs but operates as part of a much larger nuclear/utility portfolio.
• Engie: Global energy company with major Belgian renewable and B2B energy supply operations; competes with Aspiravi for Belgian and European corporate renewable PPAs as part of a much broader gas, nuclear, and services portfolio.
• Iberdrola: Spanish-led global renewable energy leader with significant onshore and offshore wind, BESS, and corporate PPA capabilities across Europe; broadly comparable renewable generation profile but operates at substantially greater scale.
• Vattenfall: Swedish state-owned utility with growing European offshore and onshore wind operations; comparable in government-aligned ownership and multi-country renewable strategy, but with broader conventional and nuclear assets.
• RWE Renewables: German utility with one of Europe's largest renewable generation footprints including offshore wind, onshore wind, and BESS; overlapping with Aspiravi's offshore ambitions and corporate PPA business, but operates as a much larger established utility.

Direct peers

• Statkraft: Norwegian state-owned Europe's largest generator of renewable energy; operates wind, hydro, and biomass across multiple European markets with similar long-term, government-aligned ownership and patient-capital profile.
• Luminus: Belgian energy company combining B2B/corporate renewable energy supply with generation assets across wind and gas. Directly competes with Aspiravi in the Belgian renewable PPA and B2B energy supply market, including competing for the same industrial customers in Flanders.
• EDP Renováveis: One of the world's largest wind energy operators with utility-scale wind and solar across Iberia, Europe, and the Americas; comparable in wind-first, multi-country renewable energy development focus.
• Eneco: Dutch-Belgian vertically integrated renewable energy company offering B2B renewable supply (Energy Control / comparable products) and operating wind, solar, and biomass assets across Benelux. Closest like-for-like peer given overlapping B2B supply and generation model.
• Qair: Independent French renewables developer active across wind, solar, and BESS in multiple European countries; directly comparable in scale and is also a consortium partner of Aspiravi in the ScotWind Thistle Wind Partners project.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/aspiravi
• Instagraminstagram.com/aspiravi_official

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Aspiravi