The Danish consortium "VindØ" consisting of PFA, PensionDanmark and Andel has initiated cooperation with Nykredit to investigate the possibilities for a comprehensive financing solution for a future energy island in the North Sea.
According to the VindØ consortium, it is expected that the mortgage company will contribute to the planning of the capital and financing structure and provide a significant portion of the debt capital based on the issuance of mortgage bonds.
- We at the VindØ consortium are very pleased that Nykredit is now entering into the collaboration on the energy island in the North Sea. Partly because Nykredit, as an association-owned company, fits well into the VindØ team, and partly because we can thus secure a comprehensive Danish financing solution for the world's first energy island, says Torben Möger Pedersen, CEO of PensionDanmark.
- Denmark must also be a green pioneer in the future. That is why we have a strong desire to bring our skills into play and show the world how we can support the development of the world's first energy island with the unique Danish mortgage, says Michael Rasmussen, CEO of Nykredit.
WindØ project one of two possible solutions
Work is underway on two solutions for the upcoming energy island in the North Sea, which the Danish Parliament has approved for construction. The two solutions are:
- The platform solution: With this solution, the island structure can consist of a number of centrally located steel platforms, which stand on steel or concrete foundations on the seabed. Concepts for platform design are well-known and widespread in both the oil, gas and offshore wind sectors.
- Reinforced island solution: With this solution, an artificial island is established in the sea by damming a relevant area, after which the water is displaced and the area is filled with sand. This is the solution that the VindØ consortium wants to build.
The energy island that the VindØ consortium wants to build will be the first of its kind in the world. The island is planned to house innovative technologies such as power-to-x and large-scale energy storage, as well as a port for servicing the surrounding wind farms. The parties behind VindØ recently presented a visualization of their vision for the project. Watch it in the video below:
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