What C-Power does

C-Power NV is a Belgian project-finance vehicle that develops, owns, and operates the Thornton Bank offshore wind farm, located 30 km off the Belgian coast in the North Sea. The 19.84 km² concession was granted in 2003; construction was completed across three phases between 2007 and 2013, with the wind farm fully operational since 2013. The asset comprises 54 Senvion turbines (six 5 MW units in Phase 1 plus forty-eight 6.15 MW units in Phases 2 and 3) on a mix of gravity-based and jacket foundations, interconnected via a 33 kV infield cable network and exporting through 150 kV cables to the Elia grid at the Sas Slijkens substation in Bredene, with an Offshore Transformer Station (OTS) providing grid interface. Installed capacity is 325 MW, producing approximately 1,000 GWh annually, equivalent to the consumption of 300,000 households and displacing roughly 415,000 tonnes of CO2 per year relative to gas-fired generation.

The company's revenue model is single-stream and infrastructure-style: it sells the entire electricity output under long-term offtake agreements split between Eneco Energy Trade B.V. (~550 GWh/year from Zone A) and Essent Sales Portfolio Management B.V. (~450 GWh/year from Zone B), with green certificates sold to Elia. C-Power also runs a long-running marine environment monitoring programme with the federal MUMM unit and maintains ISO 27001-aligned IT/OT operations. All O&M, including major component replacement, engineering, blade repair, and logistics, is delivered in-house through wholly-owned subsidiary Thornton Bank Maintenance Services (THBMS, acquired from Senvion in October 2019), coordinated from a control centre in the port of Ostend. Headcount is approximately 20 direct staff plus 30 THBMS technicians.

Ownership is a consortium of Belgian public-interest investment vehicles (DEME Concessions, Socofe, SRIW Environnement, Z-Kracht, Nuhma, VEH) alongside European utilities and infrastructure investors (RWE Renewables, EDF Renewables, Marguerite). The asset was built on roughly 70% debt financing from a syndicate including the European Investment Bank, KBC, Belfius, Rabobank, Commerzbank, KfW-IPEX, Société Générale, Helaba, EKF, Euler Hermes, and ASN Bank, with the European Commission providing a EUR 10 million EEPR grant in 2009. The operational concession runs until at least 2034.

Name

C-Power

Legal name

NV C-Power

Website

https://c-power.be

Company type

Private

Founded year

2003

Operating status

Operating

Headcount range

11–50 employees

Short description

C-Power NV owns and operates Belgium's first far-shore offshore wind farm on the Thornton Bank (325 MW, 54 turbines, 30 km offshore), selling all output under long-term offtake agreements to Eneco and Essent while running maintenance in-house via subsidiary THBMS from its Ostend control centre.

Ownership category

akta.pro rank

Product category

Offshore Wind Energy

NAICS

Wind Electric Power Generation (221115)

akta.pro primary industry

Wind Farm Ownership & Operations (IPP/Utility-Owned Asset Operations) (EUACAFAF)

akta.pro secondary industry

Wind Grid Interconnection & Power Systems (Transformers, Reactive Power, SCADA) (EUAMACAK)

Keywords

• Offshore wind energy
• Renewable power generation
• Wind farm operations
• Marine energy infrastructure
• Wind turbine maintenance

Headquarters

HQ city

Oostende

HQ country

Belgium

HQ region

Europe

Offices3 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Infrastructure, Operations, Personnel, Technology or R&D, Marketing or Sales

Revenue model

1. Electricity Sales: C-Power generates electricity from 54 offshore wind turbines (325 MW capacity) and sells it through long-term offtake agreements. Expected yearly production: approximately 1000 GWh. Zone A electricity (~550 GWh/year) is off-taken by Eneco Energy Trade B.V. Zone B electricity (~450 GWh/year) is off-taken by Essent Sales Portfolio Management B.V.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels4 records

Core offering

C-Power develops, builds, owns and operates the Thornton Bank far-shore offshore wind farm in the Belgian North Sea, comprising 54 Senvion turbines with a total installed capacity of 325 MW. The farm produces approximately 1,000 GWh of renewable electricity annually, which is sold to large energy trading companies via long-term offtake agreements, and generates green electricity certificates sold through the national transmission system operator.

Product overview

C-Power operates a single offshore wind farm on the Thornton Bank with 54 turbines generating 325 MW. The portfolio consists of the Thornton Bank wind farm (core product) built in three phases using Senvion turbines, supplemented by SCADA-based monitoring and control services, and maintenance operations delivered through subsidiary THBMS. Additional offerings include marine environmental monitoring programs.

Differentiator

Problem solved

Functional benefit

Products and services

• Thornton Bank Offshore Wind Farm 325 MW far-shore offshore wind farm on the Thornton Bank in the Belgian North Sea, 30 km from the Belgian coast, comprising 54 Senvion turbines producing approximately 1,000 GWh of renewable electricity per year under long-term offtake agreements with energy trading companies; also the source of green electricity certificates sold via the Belgian transmission system operator.

Quantifiable outcome

• 1000 GWh annual renewable energy generation - enough for 300,000 families
• +4 more outcomes

Named customers3 records

Segments1 record

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Partnerships

Seven partnerships are on record, tiered core and minor.

• Thornton Bank Maintenance Services (THBMS)coreStrategic or Co-development Partner · 1 January 2019Subsidiary acquired in October 2019 (formerly Senvion Benelux BVBA). Company with approximately 30 employees works exclusively for C-Power and performs maintenance for the 54 wind turbines on the Thornton Bank. Most employees are offshore technicians working daily on turbines in disciplines including electricity, electronics, hydraulics, and mechanics. Supports complex repairs including gearbox or rotor shaft assembly exchanges.
• John CockerillcoreStrategic or Co-development Partner · 1 January 2015Main contractor and partner in SCHIC (Safety Culture Health Improvement Campaign) launched in 2015 with C-Power and THBMS. Companies joined forces to make the Thornton Bank wind farm a healthier and safer working environment.
• Eneco Energy Trade B.V.coreChannel Partner/ Reseller/ DistributorElectricity off-taker from Zone A. Expected yearly production off-take of approximately 550 GWh from the Thornton Bank wind farm.
• Essent Sales Portfolio Management B.V.coreChannel Partner/ Reseller/ DistributorElectricity off-taker from Zone B. Expected yearly production off-take of approximately 450 GWh from the Thornton Bank wind farm.
• EliacoreChannel Partner/ Reseller/ DistributorBelgian transmission system operator. Connected via two 150 kV export cables to high voltage grid at Sas Slijkens substation in Bredene. Also customer for green electricity certificates.
• Port of OstendcoreStrategic or Co-development PartnerBase harbour for C-Power operations. Crew vessels depart daily from Ostend harbour to the wind farm 30 km offshore. Control centre and offices located in the harbour of Ostend.
• MUMM (Management Unit of Mathematical Models of the North Sea)minorStrategic or Co-development PartnerFederal authority in charge of scientific research in the North Sea. Conducts environmental monitoring of the wind farm and publishes annual reports on marine environment. Partnered with C-Power for Environmental Impact Assessment and 5-year monitoring workshop in 2013.

Scale indicators12 records

Recent moves6 records

Expansion highlights4 records

Others

• DEME Concessions: DEME Concessions is a C-Power shareholder and a leading marine contractor active in offshore wind installation, foundations and concessions (including green hydrogen). Comparable as an adjacent ecosystem participant providing EPC and concession infrastructure to the same Belgian offshore wind market.
• Elia Group: Elia is the Belgian transmission system operator and a C-Power offtake partner for green certificates, providing the high-voltage grid interface for the Thornton Bank wind farm. Comparable as the essential enabling infrastructure counterpart for Belgian offshore wind generation.

Direct peers

• Norther: Norther NV operates a 370 MW Belgian offshore wind farm directly comparable to C-Power in capacity, geography, offtake structure and concession-based ownership model.
• Seamade (Northwester 2 + Nobelwind): Seamade operates the Nobelwind and Northwester 2 Belgian offshore wind farms (combined ~487 MW) on the Belgian Continental Shelf, sharing C-Power's regulatory framework, grid connection via Elia and Belgian PPA-offtake model.
• Rentel: Rentel NV operates the Rentel offshore wind farm on the Belgian Continental Shelf (309 MW, ~42 turbines), the closest direct peer to C-Power in terms of geography, scale, offtake model and operational maturity.

Broad incumbents

• Ørsted: Ørsted is the world's leading offshore wind developer (Hornsea, Borssele, Greater Changhua). It is a broad incumbent operating at global scale rather than a niche peer, but is the natural benchmark for cost of energy, capacity factor and offshore wind operations excellence.
• EDF Renewables: EDF Renewables is a C-Power shareholder and global renewable energy player with 13+ GW installed capacity spanning onshore/offshore wind and solar. Operates as a broad incumbent in offshore wind (Fécamp, Saint-Nazaire).
• RWE Renewables: RWE Renewables is both a C-Power shareholder and one of Europe's largest offshore wind developers (Kaskasi, Sofia, Greater Gabbard) targeting 50 GW of green capacity by 2030. Comparable on technology stack, project finance and offshore operations.
• Vattenfall: Vattenfall develops and operates European offshore wind farms (Hollandse Kust Zuid, Kriegers Flak). Comparable as a broad incumbent European offshore wind developer/operator, though not active in Belgian waters.
• Iberdrola (Avangrid / Siemens Gamesa ecosystem): Iberdrola is one of the world's largest renewable energy operators with a growing offshore wind portfolio (Vineyard Wind, East Anglia Hub). Comparable as a broad incumbent utility-scale renewables developer with similar project-finance and PPA dynamics.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

Compliance1 record

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 C-Power