Ørsted gets €500m loan to back renewable energy finance

Ørsted gets €500m loan to back renewable energy finance: Ørsted has signed a deal along with the European Investment Bank (EIB) for a €500 million (£432m) loan to help its renewable energy investments.

The Danish power firm will use the loan to support the Borssele 1 & 2 wind farm, situated off the Dutch coast and its expanded capital expenditures programme on renewable energy projects.

The wind farms include 94 turbines that have a entire capacity of 752MW, producing enough electricity to power 1 million households.

Vice President Kasper Kiim Jensen, Head of Treasury and Capital Planning at Ørsted stated: “We’re very pleased with the commitment from EIB & the strong support they are showing for Ørsted’s investments into the Borssele 1 & 2 wind farms & renewable energy in general.

“With this loan Ørsted has secured long term financing for the project, which is a key enabler towards succeeding with our aspiration to become the world’s leading green energy major.”

Ørsted gets €500m loan to back renewable energy finance

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