Invest-NL invests € 64.8 million in Sif

The plant will be built at the 62 hectare Maasvlakte 2 site in Rotterdam, the Netherlands, as an extension of the existing Sif facilities. Construction is set to start in April 2023, first manufacturing operations are scheduled to start in the second half of 2024.

Fred van Beers, CEO of Sif said: “By constructing the world’s largest monopile foundation manufacturing plant and by implementing next level integrated manufacturing technology with second to none process and quality controls, Sif will live up to its vision and take a pivotal step in securing its next phase of growth. As a result of this investment, we will strengthen our absolute global leadership position as monopile foundations solutions provider, enhance our innovative skills and create long term value for all our stakeholders with a clear growth path in an accelerating global offshore wind market. An important basis for the plan is the responsibility taken for safety and sustainability in building the facility as well as the design and operation of the production process.

To speed-up the transition towards a carbon neutral economy Invest-NL believes robust value chains and execution power are a prerequisite. Therefore we see it as our role to make sure appropriate financing arrangements are in place, next to our investments in breakthrough innovations. This investment in Sif meets these criteria as it aims to ensure sufficient production capacity to live up to our offshore wind objectives for the coming decades.

“Sif is a prime example of the new green industry, the kind of company that paves the road to a carbon neutral economy. Given its track record and ambition, it plays a vital role in the energy transition that is needed to help us build The Netherlands of tomorrow, especially when it comes to offshore wind. We are truly excited to be part of the financial consortium that enables Sif to realize its ambitions with its new manufacturing plant in Rotterdam. With the support of the Ministry of Economic Affairs and Climate, Invest-NL will provide a € 64.8 million term-loan, by far our largest funding to date,” according to Rinke Zonneveld, CEO at Invest-NL.

For more information about this investment we refer to the extensive Sif press release, to be found here.