NBIM acquires 50% stake in 752 MW Offshore wind farm in Netherlands

Ørsted has signed an agreement with Norges Bank Investment Management (NBIM), who will be acquiring a 50 % ownership share of Ørsted's 752 MW Borssele 1 & 2 Offshore Wind Farm.

It is Located 23 km off the coast of the Dutch region of Zeeland at water depths ranging from 14 to 36 m. The project consists of 94 Siemens Gamesa 8 MW offshore wind turbines of Borssele 1 & 2 generate enough power to annually cover one million households with green energy in the Netherlands. 

The total value of the transaction is approx. EUR 1.375 billion (US$1.632 billion) which is to be paid upon closing of the transaction. Closing is expected around summer 2021.

As part of the agreement, Ørsted will continue to provide long-term operations and maintenance (O&M) services from its O&M base at the Port of Vlissingen in the Netherlands. Furthermore, Ørsted will provide NBIM with balancing services and a long-term route to market for the renewable electricity generated by Borssele 1 & 2.

The 752 MW wind farm is the largest operational offshore wind farm in the Netherlands - and the second-largest operational offshore wind farm in the world.