Nordic Investment Bank backs offshore wind farm in Denmark

NIB President Johnny Åkerholm said: “This loan to Dong Energy’s new offshore wind farm contributes to the Danish government’s efforts to make the country less dependent on fossil fuel.”

Located in the Kattegat between Anholt island and Jutland, the 400 MW wind energy project will consist of 111 3.6 MW wind turbines. When it enters service in 2012, it will supply around 4% of national power consumption.

The Nordic Investment Bank (NIB) and Danish energy company DONG Energy have signed a loan totalling EUR 240 million (DKK 1.8 billion) for financing the Anholt offshore wind farm. The loan has a maturity of 10 years and will partly finance the construction of what will become one of the world’s largest offshore wind farms. The wind farm will be located offshore in the Kattegat between Jutland and the island of Anholt.

DONG Energy is one of Europe’s leading wind power producers with around 20 years of experience in building and operating offshore wind farms. The company’s business is based on procuring, producing, distributing and trading in energy and related products in Northern Europe.

The Nordic Investment Bank (NIB) is the common international financial institution of the eight Nordic and Baltic countries. NIB provides long-term financing to the energy, environmental, transport, logistics and communications, and innovation sectors for projects that strengthen competitiveness and enhance the environment. NIB has the highest possible credit rating, AAA/aaa, with the leading rating agencies Standard & Poor’s and Moody’s.