A consortium consisting of PensionDanmark, PFA and SEAS-NVE is ready to finance one of the two energy islands that the government plans to build as part of the climate action plan, according to a joint press release.
This applies to the planned energy island in the North Sea, which the consortium is ready to initially provide up to 400 million DKK to develop.
- Denmark is a pioneer in driving the green transition, and it requires significant investments to meet the ambitious goals the government has set. A wind island in the North Sea will accelerate the green transition even more, while at the same time creating value for Denmark's pension savers. Therefore, we at PFA are ready, together with the others in the consortium, to lift this historic project, and thereby ensure that PFA's 1.3 million customers' savings will come out and work in the best possible service, says Kasper Ahrndt Lorenzen, Group Investment Director at PFA Pension.
The future energy island - called VindØ - is intended to be built of concrete caissons a good 100 km out in the North Sea, where the energy can be collected and sent to shore. The consortium is opening up the possibility for Energinet to buy part of the island in order to build a transmission cable to shore, ensuring public ownership of the transmission network.
- An energy island in the North Sea is an important part of an economically sound expansion of offshore wind electricity capacity. It also has the potential to become an export product to those parts of the world where the expansion of offshore wind in the coming decades will take place. Experience from the North Sea can be spread to the rest of the world, says Torben Möger Pedersen, CEO of PensionDanmark.
Initially, the government has planned for the energy island to have a capacity of 2 GW with the possibility of expansion to up to 10 GW, and it can also be expanded to include scaling options through, for example, Power-to-X.
The partners are assisted by Copenhagen Infrastructure Partners, one of the world's leading investment companies within green infrastructure with significant experience from large offshore projects around the world.
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