In order to collaboratively develop offshore wind projects in Greece, Parkwind, a green energy company, located in Belgium, has teamed up with Intrakat, a Greek construction company. The collaboration is a component of Parkwind’s bigger international growth strategy. The agreement will combine Intrakat’s local infrastructure expertise and Parkwind’s expertise in offshore wind development.

Parkwind, a Leuven-based company, develops, finances, and operates offshore wind farms. The company now operates four wind farms in the Belgian North Sea, and a fifth is being built in Germany. Intrakat is part of Intracom Holdings, a major company in Greece’s construction sector. Reportedly, the company has increased its capabilities to encompass electricity storage units and currently has a portfolio with more than 1 GW of renewable energy capacity.

In June 2021, Parkwind NV reached financial closure on its Arcadis Ost 1 offshore wind project in the German part of the Baltic Sea. The project has a capacity of 247 MW and would be located in the waters of the Mecklenburg-Western Pomerania state, about 19 km northeast of the island of Ruegen. Parkwind procured about $691.2 million in the form of debt financing.