Netherlands: EIB backs Ørsted with €500 million loan agreement, boosts green energy
Summary
• The European Investment Bank (EIB) has signed a €500 million loan agreement with Ørsted A/S, in support of the company’s commitments in terms of renewable energy. • Among the initiatives and capex that are undertaken by Ørsted, Borssele 1 & 2 wind farms receive a long-term financing commitment. “We’re very pleased with the commitment from EIB and the strong support they are showing for Ørsted’s investments into the Borssele 1 and 2 wind farms and renewable energy in general. The EIB remains committed to financing this transition and is happy to financially support Ørsted’s role in this.” The 752 MW Borssele wind farms count 94 wind turbines which, through inter-array cabling, transfer their energy to an offshore substation before reaching the grid via a high-tension line which the EIB previously helped finance with TSO TenneT. This enables the EIB to provide long-term financing for solid investments which contribute to the EU’s policy goals.