Ørsted secures €525 M for Hornsea 3
Once finished, Hornsea 3 will be the world’s largest wind farm.
Image for illustration purposes.
Denmark: Export Finance Norway (Eksfin) is providing loan financing of €525 million to Ørsted based on the purchase of two transformer platforms from Norway’s Aibel for the Hornsea 3 offshore wind farm in the UK. This increases Eksfin’s total offshore wind financing to nearly €3.5 billion.
Hornsea 3, with a capacity of 2.9 GW and located off the Norfolk/South Yorkshire coast, will be the world’s single largest wind farm once in operation in 2027. It is set to be Ørsted’s third gigawatt-scale project in the zone after Hornsea 1 (1.2 GW) and Hornsea 2 (1.3 GW), already in operation.
Ørsted’s interim chief finance officer Rasmus Errboe said: “The support by Eksfin and similar institutions plays a very important role in the green energy transition given the capital intensity of the sector. From Ørsted’s side, we are very satisfied with the cooperation with and flexibility shown by Eksfin in relation to the loan financing for our Hornsea 3 offshore wind farm.”
Source: renews.biz