The new agreement: "Agreement on tender framework for three offshore wind farms" on the framework for tendering three offshore wind farms is receiving support from the insurance and pension industry. With the model, where the state assumes part of the risk in return for a share in any profits, the hope is that Danish offshore wind projects will once again become economically attractive to investors.
- Denmark is in fierce competition with our neighboring countries to attract investments in the green transition and with this agreement, the government and the parties behind it have taken an important step on the road to sending Denmark forward into the European leadership field again. It is very good for Denmark and Danish offshore wind, and if one or more pension companies choose to invest in the offshore wind farms, it can also become a long-term and stable source of income for pension customers, says Kent Damsgaard, CEO of F&P, in a press release.
The agreement involves government support of up to 55 billion DKK over 20 years. The industry emphasizes that the economic framework conditions for offshore wind have deteriorated significantly in recent years with increased investor risk, uncertainty about electricity prices and pressure on supply chains.
- The parties to the agreement have listened to the players in the market and gathered experience from abroad, and with the agreement, the green transition can once again become a business case for both developers and investors, so that investments do not bypass Denmark. Several Danish pension companies participated in investments in the first offshore wind farm in Denmark and have since invested in offshore wind and green transition worldwide. They and their partners therefore have extensive know-how in the area and are leaders in the world, says Kent Damsgaard.
F&P believes that the agreement can give Danish offshore wind a much-needed boost and emphasizes that Danish pension companies already have experience with offshore wind and green investments globally. In 2019, the industry has committed to investing 450 billion DKK in the green transition, of which 343 billion DKK DKK has already been realized.
- From our side, we feel involved and we believe that with the agreement, Danish offshore wind can once again become a healthy and relevant investment for, for example, pension companies, says Kent Damsgaard.
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