Denmark. DONG Energy A/S

Date of agreement:20 Sep 2011
Country:Denmark
Customer:DONG Energy A/S
Amount in EUR:EUR 240 million
Maturity:10 years
NACE sector / loan type:Production and distribution of electricity

This loan contributes to climate change mitigation: 100%

Financing from NIB Environmental Bond proceeds

NEB-eligible share: 38%

NEB category: Renewable energy generation

Amount disbursed: EUR 91.2 million

Note: For loans in other currencies than EUR, the equivalent in EUR is based on the exchange rate effective for the disbursement. Read more about the NIB Environmental Bonds

Project

The loan totalling EUR 240 million, of which 38% is financed by NIB Environmental Bonds, has been provided for constructing the new offshore wind farm in the Kattegat between Jutland and the island of Anholt.

Constructing the Anholt offshore wind farm is part of the Danish government’s efforts to make the country less dependent on fossil fuel.

The offshore wind farm project consists of 111 wind turbines, each with a capacity of 3.6 MW, making it one of the largest offshore wind farms in the world. The offshore wind farm is expected to supply its first power in 2012 and to be commissioned in 2013.

DONG Energy is one of Europe’s leading wind power producers with around 20 years of experience in building and operating offshore wind farms. The company’s business is based on procuring, producing, distributing and trading in energy and related products in Northern Europe.

Fulfilment of NIB's mandate

The aim of the project is to increase production of renewable energy in Denmark and thus reduce CO2 emissions by crowding out fossil fuel. With a capacity of 400 MW, Anholt wind farm will provide CO2-free energy corresponding to the annual power consumption of 400,000 Danish households, or 4% of Denmark’s total power consumption. The project has received a good competitiveness rating and an excellent environmental rating.

Sustainability summary

 

The project has several positive environmental aspects. Electricity generation from wind crowds out fossil fuel based energy, and thus avoids the emissions of CO2, dust, NOx and SO2. The wind farm is located 15 kilometres off the coast, reducing negative impacts on the landscape and noise to nearby inhabitants. It is also situated in relatively shallow waters on a sandy bottom and in an area with high mean wind speeds. The wind farm is not situated in connection with fragile ecological areas.

 

Press release
20.09.2011

NIB finances the Anholt offshore wind farm in Denmark

Press release

NIB finansierer Anholt havmøllepark

Related resources

Article

9.9.2013

DONG inaugurates Denmark’s largest offshore wind farm

Article

14.10.2011

DONG Energy: going windward