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Borssele 1 & 2: Ørsted Sells Offshore Shares to Norges Bank Investment Management

Fredericia, Denmark - Danish energy company Ørsted has signed an agreement with Norges Bank Investment Management (NBIM).

Under the terms of the agreement, NBIM will acquire a 50 percent stake in the Dutch offshore wind farm project Borssele 1 & 2 with a capacity of 752 MW. Borssele 1 & 2 was commissioned in the fourth quarter of 2020. It is NBIM's first investment in an unlisted renewable energy infrastructure, Ørsted announced.

The total value of the transaction is approximately EUR 1.375 billion (approximately DKK 10.2 billion), which is to be paid upon closing of the transaction. Closing is expected in the summer of 2021. Under the agreement, Ørsted will continue to provide long-term operations and maintenance (O&M) services from its O&M base in the Dutch port of Vlissingen. In addition, Ørsted will provide NBIM with balancing services and a long-term pathway to market the renewable electricity generated by Borssele 1 & 2.

The Ørsted share, listed on the global equity index RENIXX, finished trading yesterday (12.05.2021) with a daily loss of 1.8 percent to 140.75 euros.

Source: IWR Online, Apr 04 2021