Ørsted has joined forces with Denmark’s largest institutional investor ATP to submit a bid in the upcoming tender for the Danish North Sea energy island.
The two companies plan to examine the optimal integration of Power-to-X with the energy island and the future energy infrastructure in the North Sea.
“The North Sea energy island is a very interesting investment case for ATP, because it can contribute to good and stable pensions and develop Danish industrial positions of strength while also being a decisive lever for the green transition in Denmark,” said Bo Foged, CEO of ATP.
“The investment is, of course, not without risk, for which our members must be compensated, but Ørsted and ATP make up a strong partnership with the right complementary capabilities to deliver on this task. And then I’m also pleased that we, in this partnership, can secure that the returns from the project will benefit all Danes through ATP.”
To remind, Denmark reached a landmark agreement at the beginning of February on the construction of an energy hub in the North Sea.
The North Sea Energy Island will be an artificially constructed island 80 km from the shore of the peninsula Jutland. Around 200 wind turbines with a combined capacity of 3 GW are expected to be installed in the first phase of the project by 2030.
When fully developed, the North Sea energy island hub will reach a capacity of 10 GW.
The tendering process is planned to begin in 2022, with the announcement of the winner expected at the beginning of 2023.