Sumitomo, Parkwind Building 165MW Belgium Offshore Wind Farm

Sumitomo Corp. and Parkwind NV began construction of a 655 million euro ($728 million) wind farm off the coast of Belgium after securing 460 million euros in financing for construction and operating costs.

Meewind, an investment fund based in the Netherlands, is also taking part in the 165-megawatt project, Sumitomo, a Tokyo-based trading company, said in a statement Friday.

MHI Vestas Offshore Wind A/S will supply fifty 3.3-megawatt wind turbines, according to the statement. The wind farm, about 45 kilometers (28 miles) north of the Belgian coast, will be complete by the end of December 2017.

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