Ørsted, a company that develops, constructs and operates offshore and onshore wind farms, has signed an agreement with Norges Bank Investment Management (NBIM). Under the agreement, NBIM will be acquiring a 50% ownership share of Ørsted’s 752 MW Borssele 1 & 2 Offshore Wind Farm, which was commissioned in the fourth quarter of 2020.
The total value of the transaction is approximately €1.375 billion which is to be paid upon closing of the transaction expected this summer. 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.
“As one of the world’s largest institutional investors, NBIM is making a difference by making sustainable investments,” says Martin Neubert, CCO and deputy group CEO of Ørsted. “We’re delighted to welcome NBIM as a partner on Borssele 1 & 2, which is a landmark project for the Netherlands’ transition to renewable energy, and we’re pleased to support NBIM in their strategy to invest in renewable energy infrastructure assets.”
Today’s agreement marks NBIM’s first investment in unlisted renewable energy infrastructure. The divestment to NBIM is subject to regulatory approvals.
Facts about Borssele 1 & 2:
- The largest operational offshore wind farm in the Netherlands – and the second-largest operational offshore wind farm in the world – with an installed capacity of 752 MW
- Located 23 km off the coast of the Dutch region of Zeeland at water depths ranging from 14 to 36 m
- Utilizes 94 Siemens Gamesa 8 MW offshore wind turbines
- Fully commissioned in the fourth quarter of 2020
