Ørsted signs USD200 million loan agreement for 752 MW wind farm in Netherlands

Ørsted has signed a EUR175 million(US$200.35 million) 8-year loan agreement with the Nordic Investment Bank (NIB) for the purpose of co-financing its investment in the Borssele 1 & 2 Offshore Wind Farm located off the coast of Zeeland, in the south-west of the Netherlands.

Together with the EUR500 million (US$572.42 million) loan agreement closed with the European Investment Bank on 6 September 2021, the intended long-term financing of Ørsted’s investment in the Borssele 1 & 2 project is now complete. The two wind farms have a total of 94 units of 8 MW Siemens Gamesa 8.0-167 DD wind turbines generating 752 MW of power, which is enough electricity to meet the needs of around one million domestic households.

The Offshore Wind Farm delivered the first power to the Dutch grid in April 2020 and was fully commissioned in December 2020.

In May 2021, Ørsted completed a 50% divestment of the Borssele 1 & 2 project to Norges Bank Investment Management.