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
This project has been financed with the proceeds of NEBs issued under the previous framework
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.
