Ørsted Divests Half of Borssele 1 & 2 OWF for EUR 1.38 Billion

Ørsted has completed the divestment of 50 per cent of the Borssele 1 & 2 offshore wind farm in the Netherlands to Norges Bank Investment Management (NBIM) for circa EUR 1.38 billion.

This is said to be NBIM’s first investment in unlisted renewable energy infrastructure.

The offshore wind developer announced the divestment in April, when the two parties signed an agreement under which Ørsted will continue to provide long-term operations and maintenance services for the entire project from its O&M base at the Port of Vlissingen.

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Ørsted will also provide NBIM with balancing services and a long-term route to market for the renewable electricity generated by Borssele 1 & 2.

Located 22 kilometres off the coast of the province of Zeeland, the project was the first to cross the EUR 100/MWh barrier in the offshore wind sector at the Dutch competitive tender held in 2016.

The 752 MW offshore wind farm, comprising 94 Siemens Gamesa 8 MW turbines, went into operation in November 2020.

Photo: Illustration; Borssele 1 & 2 offshore wind farm in the Netherlands; Photo: Ørsted