NIB to finance world’s largest windfarm
by Richard Kilner
Story link: NIB to finance world’s largest windfarm
The Nordic Investment Bank (NIB) is to help finance the globe’s biggest offshore windfarm in Denmark.
A loan of 160m euros from NIB will support DONG Energy A/S and finance the world’s largest windfarm to complete the political goal of Denmark to expand the role of renewable energy.
The deal was struck in Copenhagen today and involves a 10-year-maturity loan agreement to finance the Horns Rev II windfarm, located off Denmark in the North Sea.
Its predecessor, the Horns Rev I, was also supported financially by NIB and is located near to the new, larger farm.
DONG Energy is the third largest Nordic gas, electricity and heat utility, and the market leader in Denmark.
Its new project will include a grand total of 91 windmills, enough to power 200,000 households (or 2% of the Danish electrical supply).
Not only will the windfarm reduce carbon dioxide, it will also prevent sulphur emissions which can lead to acid rain.