EIB supports Ørsted with € 500 million loan agreement and boosts green energy

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Posted 20 hours ago

Proposed by Ørsted

Summary
The European Investment Bank (EIB) has signed a EUR 500 million loan with Ørsted to support its increased investment program on renewable energy projects and the conclusion of the Borssele 1 and 2 wind farms offshore Dutch coasts with a long-term commitment from the EIB.

Originally posted on the Ørsted news site on September 29, 2021

November 5, 2021 / CSRwire / – “We are very satisfied with the EIB’s commitment and the strong support it shows for Ørsted’s investments in the Borssele 1 and 2 wind farms and renewable energies in general. With this loan, Ørsted secured long-term financing for the project, which is a key factor in achieving our aspiration to become the world leader in green energy ”, said Vice President Kasper Kiim Jensen, Head of treasury and capital planning at Ørsted.

“The EIB has a long history of financing wind energy, from technology R&D to turbines, as well as some of the largest wind farms in Europe, ultimately helping to bring down the prices of wind energy. ”Said Kris Peeters, EIB Vice-President. “Renewable energies will continue to gain in importance as we move towards full decarbonization. The EIB remains committed to funding this transition and is happy to financially support Ørsted’s role in this area.”

The 752 MW wind farms at Borssele 1 & 2 have 94 wind turbines which, via inter-grid cabling, transfer their energy to an offshore substation before reaching the grid via a high-voltage line that the EIB previously helped to build. finance with the GRT TenneT.

About the European Investment Bank

The European Investment Bank (EIB) issues long-term loans on behalf of the European Union. The Bank is owned directly by EU member states – the Netherlands owns 5.2% of its shares – and is therefore able to offer extremely cheap loans in the capital market. This allows the EIB to provide long-term finance for solid investments that contribute to EU policy objectives. The EIB made approximately EUR 1.9 billion of loans available for projects in the Netherlands in 2020.

About Ørsted

Ørsted’s vision is a world that runs entirely on green energy. Ørsted develops, builds and operates offshore and onshore wind farms, solar farms, energy storage facilities and bioenergy plants, and supplies energy products to its customers. Ørsted ranks as the world’s most sustainable energy company in the 2021 Corporate Knights Index of the World’s 100 Most Sustainable Companies and is recognized on the CDP’s A List on Climate Change as a global leader in climate action. Based in Denmark, Ørsted employs 6,472 people. Ørsted shares are listed on Nasdaq Copenhagen (Orsted). In 2020, the group’s turnover amounted to 52.6 billion Danish kroner (7.1 billion euros). Visit orsted.com or follow us on Facebook, LinkedIn, Instagram and Twitter.

Orsted

Ørsted

Ørsted

Ørsted’s vision is a world that runs entirely on green energy. Ørsted develops, builds and operates offshore and onshore wind farms, solar farms, energy storage facilities and bioenergy plants, and supplies energy products to its customers. Ørsted ranks No.1 in the 2020 Corporate Knights Index of the World’s 100 Most Sustainable Companies and is recognized on the CDP’s A List on Climate Change as a global leader in climate action. Based in Denmark, Ørsted employs 6,600 people. Ørsted shares are listed on Nasdaq Copenhagen (Orsted). In 2019, the group’s turnover amounted to DKK 67.8 billion (€ 9.1 billion).

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