The Aspiravi group's shareholders are further expanding the renewable energy market through carefully selected and well-designed wind farms and power stations for non-recyclable wood waste in Belgium, the North Sea and abroad.

The investment yields of the Aspiravi group flow back to the municipal shareholders, who in turn invest these amounts for the benefit of their residents. The extensive shareholder structure and the various core shareholdings of the Aspiravi group require a transparent policy, whereby information is shared consistently and step-by-step between the various levels.

CORE SHAREHOLDINGS

Aspiravi Holding is a shareholder (84.9%) of Aspiravi, Aspiravi Offshore and Aspiravi International, along with the Vlaamse Energieholding (15.1%). The holding is the 100% shareholder of Aspiravi Offshore II, Aspiravi Trading and Aspiravi Energy.

The group carries out onshore projects in Belgium via the company Aspiravi NV. This is done either directly or by shareholdings in other companies.

In the province of Limburg, the Aspiravi group is active as a shareholder of Limburg win(d)t NV (66.7%) and Lommel win(d)t NV (66.7%). In the province of Antwerp, projects are being implemented on the right bank of the port as a shareholder of Vleemo NV (50%) and on the left bank as a shareholder of Wind@Stroom NV (14.4%). Aspiravi is also a shareholder in: Groene Energie Haven Antwerpen NV (57.5%), A&S Energie (50%) and A&U Energie (50%), both of the power stations for the incineration of non-recyclable wood waste.

Aspiravi Offshore NV is the main shareholder (40%) of the Northwind NV wind farm. Through Northwind, Aspiravi Offshore NV is a shareholder (23.6%) of Cableco CV, which owns the export cable linking the mainland to the high-voltage substation at sea. Aspiravi Offshore NV is also a direct shareholder (50%) of A&P Wind Services NV, which is in charge of operational and financial management of Northwind and Cableco.

Aspiravi Offshore II NV is involved with the Rentel NV (12.5%) and SeaMade NV (8.75%) (Seastar and Mermaid) wind farms through the company Otary RS NV (12.5%). Otary is a partnership of eight major Belgian players in offshore wind energy.

The group develops projects abroad through Aspiravi International NV. The wind energy projects on the island of Curaçao are combined under Aspiravi Antillen NV, which in turn is a shareholder in NuCuraçao Wind Farms BV (60%) and NuCuraçao Wind Farms 2BV (50%).

Aspiravi Trading NV trades in electrical energy, green power certificates, cogeneration certificates and guarantees of origin.

Locally produced green power can be purchased via Aspiravi Energy NV. Moreover, citizen co-operants of Aspiravi Samen CV and Limburg wind CV with a minimum of 4 shares can enjoy a cheaper price. Aspiravi Energy also donates an amount to a social cause that works to combat energy poverty or child poverty for each megawatt hour consumed

FINANCIAL POLICY AND CORE FIGURES FOR THE ASPIRAVI GROUP

The Aspiravi group attaches very great importance to clear and unambiguous communication. Not only is care taken with social support and embedding each project among the public, but the principles of sound management and transparency are also applied continually in practice. Clear information is central to the development, construction and operation of all projects, as well as the provision of open and transparent information on financial data.

The annual account and the balance sheet can be perused not only in this online magazine, but also at any time on the website.


Over 18 years, the consolidated balance sheet of Aspiravi Holding has evolved to a balance sheet total of 1,003 million euros with shareholders' equity of 235 million euros and fixed assets with a value of 733 million euros. A turnover of 233 million euros was realised and a profit of 27 million euros. From this strong financial position, future projects can be financed by Aspiravi Holding itself, supplemented by business loans and capital generated by the co-operative societies. Since its creation, the value of Aspiravi Holding has multiplied by almost 20. In addition, the regional holding companies of municipal shareholders also receive a very good annual dividend, which has already totalled more than 75 million euros since the creation of Aspiravi Holding.

Balance sheet total

€ 1,003

millions of 

Shareholders' equity

€ 235

millions of 

Fixed assets

€ 733

millions of 

Turnover

€ 233

millions of 

Profit

€ 27

millions of 

The key concepts of diversification and risk spreading will prevail in the future for the group's further growth. The multi-tier company structure, collaborations with specialist partners and a geographical distribution of activities, among other things, will be maintained.

The Aspiravi group's figures are the result of the daily efforts of all staff and the consistent policy of the directors. Their efforts determine the course the group has taken and the direction in which it continues. The Aspiravi group's future plans remain ambitious: progressing the group's sustainable growth and contributing towards the necessary energy transition. That is our goal. We will pursue it. We will continue this work along with you.


The Aspiravi group's shareholders are further expanding the renewable energy market through carefully selected and well-designed wind farms and power stations for non-recyclable wood waste in Belgium, the North Sea and abroad.

The investment yields of the Aspiravi group flow back to the municipal shareholders, who in turn invest these amounts for the benefit of their residents. The extensive shareholder structure and the various core shareholdings of the Aspiravi group require a transparent policy, whereby information is shared consistently and step-by-step between the various levels.

Growth of the Aspiravi group

SHAREHOLDER

The Aspiravi group is a 100% Belgian group that has been active in the renewable energy sector since 2002. The Aspiravi group's strategy and policies are determined by its Board of Directors and approved at its annual General Assembly. This is where its shareholders are represented. These shareholders are 4 regional holdings, Creadiv, Efin, Fineg and Nuhma who together represent 94 Belgian cities and municipalities, and the Vlaamse Energieholding (VEH). They, in turn, are accountable to their Boards of Directors and to their General Assemblies, at which all 94 municipalities concerned are directly represented and exercise control.

STRUCTURE, CORE 

SHAREHOLDINGS

AND POLICY

SHAREHOLDERS AND SHAREHOLDER STRUCTURE

CORE SHAREHOLDINGS

Aspiravi Holding is a shareholder (84.9%) of Aspiravi, Aspiravi Offshore and Aspiravi International, along with the Vlaamse Energieholding (15.1%). The holding is the 100% shareholder of Aspiravi Offshore II, Aspiravi Trading and Aspiravi Energy.

SHAREHOLDERS STRUCTURE
OF ASPIRAVI HOLDING

The group carries out onshore projects in Belgium via the company Aspiravi NV. This is done either directly or by shareholdings in other companies.

In the province of Limburg, the Aspiravi group is active as a shareholder of Limburg win(d)t NV (66.7%) and Lommel win(d)t NV (66.7%). In the province of Antwerp, projects are being implemented on the right bank of the port as a shareholder of Vleemo NV (50%) and on the left bank as a shareholder of Wind@Stroom NV (14.4%). Aspiravi is also a shareholder in: Groene Energie Haven Antwerpen NV (57.5%), A&S Energie (50%) and A&U Energie (50%), both of the power stations for the incineration of non-recyclable wood waste.

CORE SHAREHOLDINGS OF ASPIRAVI NV

*direct and/or indirect shareholder

Aspiravi Offshore NV is the main shareholder (40%) of the Northwind NV wind farm. Through Northwind, Aspiravi Offshore NV is a shareholder (23.6%) of Cableco CV, which owns the export cable linking the mainland to the high-voltage substation at sea. Aspiravi Offshore NV is also a direct shareholder (50%) of A&P Wind Services NV, which is in charge of operational and financial management of Northwind and Cableco.

CORE SHAREHOLDINGS OF ASPIRAVI OFFSHORE NV

*direct and/or indirect shareholder

CORE SHAREHOLDINGS OF ASPIRAVI OFFSHORE II NV

*direct and/or indirect shareholder

Aspiravi Offshore II NV is involved with the Rentel NV (12.5%) and SeaMade NV (8.75%) (Seastar and Mermaid) wind farms through the company Otary RS NV (12.5%). Otary is a partnership of eight major Belgian players in offshore wind energy.

The group develops projects abroad through Aspiravi International NV. The wind energy projects on the island of Curaçao are combined under Aspiravi Antillen NV, which in turn is a shareholder in NuCuraçao Wind Farms BV (60%) and NuCuraçao Wind Farms 2BV (50%).

CORE SHAREHOLDINGS OF ASPIRAVI INTERNATIONAL NV AND ASPIRAVI ANTILLEN NV

Aspiravi Trading NV trades in electrical energy, green power certificates, cogeneration certificates and guarantees of origin.

Locally produced green power can be purchased via Aspiravi Energy NV. Moreover, citizen co-operants of Aspiravi Samen CV and Limburg wind CV with a minimum of 4 shares can enjoy a cheaper price. Aspiravi Energy also donates an amount to a social cause that works to combat energy poverty or child poverty for each megawatt hour consumed

The Aspiravi group attaches very great importance to clear and unambiguous communication. Not only is care taken with social support and embedding each project among the public, but the principles of sound management and transparency are also applied continually in practice. Clear information is central to the development, construction and operation of all projects, as well as the provision of open and transparent information on financial data.

The annual account and the balance sheet can be perused not only in this online magazine, but also at any time on the website.


FINANCIAL POLICY AND CORE FIGURES FOR THE ASPIRAVI GROUP

Over 18 years, the consolidated balance sheet of Aspiravi Holding has evolved to a balance sheet total of 1,003 million euros with shareholders' equity of 235 million euros and fixed assets with a value of 733 million euros. A turnover of 233 million euros was realised and a profit of 27 million euros. From this strong financial position, future projects can be financed by Aspiravi Holding itself, supplemented by business loans and capital generated by the co-operative societies. Since its creation, the value of Aspiravi Holding has multiplied by almost 20. In addition, the regional holding companies of municipal shareholders also receive a very good annual dividend, which has already totalled more than 75 million euros since the creation of Aspiravi Holding.

Balance sheet total

€ 1,003

millions of 

Shareholders' equity

€ 235

millions of 

Fixed assets

€ 733

millions of 

Turnover

€ 233

millions of 

Profit

€ 27

millions of 

The key concepts of diversification and risk spreading will prevail in the future for the group's further growth. The multi-tier company structure, collaborations with specialist partners and a geographical distribution of activities, among other things, will be maintained.

The Aspiravi group's figures are the result of the daily efforts of all staff and the consistent policy of the directors. Their efforts determine the course the group has taken and the direction in which it continues. The Aspiravi group's future plans remain ambitious: progressing the group's sustainable growth and contributing towards the necessary energy transition. That is our goal. We will pursue it. We will continue this work along with you.


SHAREHOLDERS OF
THE ASPIRAVI GROUP