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June 1, 2021updated 04 Jun 2021 2:54pm

Ørsted divests Borssele I and II wind farm stake to NBIM

The 752MW offshore facility features 94 Siemens Gamesa 8MW wind turbines.

By Umesh Ellichipuram

Danish energy company Ørsted has completed the sale of 50% ownership stake in its Borssele I and II offshore wind farm to Norges Bank Investment Management (NBIM) for €1.36bn ($1.61bn).

The deal was initially announced in April. As agreed, Ørsted will continue to provide long-term operations and maintenance services for the project from its base at the Port of Vlissingen.

The company will also provide balancing services to NBIM and a long-term route to market for the renewable electricity produced by the Borssele I and II facility.

Featuring 94 Siemens Gamesa 8MW wind turbines, the 752MW offshore wind farm is located 23km off the coast of Zeeland, the Netherlands, at water depths of between 14m and 36m.

Commissioned in the fourth quarter of last year, the farm has the capacity to generate enough clean energy to power one million households in the country a year.

The deal’s completion marks NBIM’s first investment in the unlisted renewable energy infrastructure.

At the time of signing the agreement, Ørsted Benelux general manager Steven Engels said: “Borssele I and II kickstarted the Netherlands’ ambitious programme for offshore wind build-out and will help the country meet its 2030 carbon reduction goals.

“We remain committed to the Netherlands and the Zeeland region to contribute to the energy transition for many years to come.”

Borssele I and II is the largest operational offshore wind farm in the country and the second-largest operational facility globally.

The farm will support employment and skills development and creates benefits for the local economy.

NBIM is the asset management division of Norges Bank.

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