Long-term financing of Dutch Borssele 1 & 2 project complete


The NetherlandsAs part of the Borssele 1 and offshore wind farm in the Netherlands, Ørsted has signed a EUR 175 million, 8-year loan agreement with the Nordic Investment Bank (NIB).

A loan agreement signed with the European Investment Bank on September 6th, 2021, completes the long-term financing of Ørsted’s investment in the Borssele 1 & 2 projects.

From its start-up in April 2020 through to its completion in December 2020, the Borssele 1 and 2 offshore wind farm generated 752 MW of electricity for the Dutch grid. Borssele 1 & 2 was sold to Norges Bank Investment Management by Ørsted in May 2021 for a price of $50 million.

“Ørsted has a long-standing relationship with NIB, and we’re delighted with this opportunity to further strengthen our cooperation and with the strong support provided by NIB for our investment in the offshore wind farm Borssele 1 & 2, where we’re again joining forces in support of the green agenda,” says Marianne Wiinholt, CFO at Ørsted.