NIB Loans USD 328m to Dong Energy for Anholt Offshore Wind Park (Denmark)

 

The Nordic Investment Bank (NIB) and Danish energy company DONG Energy have signed a loan totalling EUR 240 million ($328 million) 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.

The Anholt offshore wind farm will supply CO2-free power corresponding to theannual power consumption of more than 400,000 Danish households, or 4% of Denmark's total power consumption.

"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," says Johnny Ã…kerholm, NIB President and CEO.

The offshore wind farm project consists of 111 wind turbines, each with a capacity of 3.6 MW. Anholt offshore wind farm is expected to supply its first power in 2012.

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.

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Source: nib, September 20, 2011