April 23, 2021 Read More →

Orsted, Danish pension fund plan massive offshore “energy island”

Reuters ($):

Wind farm developer Orsted (ORSTED.CO) plans to submit a joint bid with Danish pension fund ATP to finance and build the world’s first energy island in the North Sea.

The artificial island, which will produce and store enough green energy to cover the electricity needs of 3 million European households, was approved by Danish lawmakers in February as part of the country’s ambitious climate targets.

“The North Sea energy island will be a cornerstone in harnessing the Danish offshore wind resources, which can make a substantial contribution towards Denmark’s and Europe’s green transitions and create thousands of jobs in Denmark,” Orsted said in a statement.

Orsted expects the project, which will be majority owned by the Danish state, to be put out to tender next year and a decision to be made in 2023, a spokesman said. The precise terms of the tender have yet to be finalised.

[Jacob Gronholt-Pedersen]

More: Orsted plans bid for North Sea renewables energy island

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