Danish consortium steps up to finance VindØ energy island project

A consortium made up of Danish pension managers PensionDanmark A/S and PFA and energy company SEAS-NVE said it is ready to finance and operate the VindØ energy island -- a future base for up to 10 GW of offshore wind farms in the North Sea.

The consortium will initially put up to DKK 400 million (USD 58.4m/EUR 53.6m) to develop the project. Danish fund manager Copenhagen Infrastructure Partners is providing assistance to the consortium, the partners said in a press release.

The VindØ island will be made up of submersible concrete boxes installed some 100 kilometres (62.1 miles) off the coast in the North Sea. There will be a possibility for the island’s continuous expansion in line with the development of storage and Power-to-X technologies, as well as its connection to other countries in the North Sea area.

Danish state-owned transmission system operator Energinet can buy part of the island to install transmission cables to ensure that the transmission network stays in public hands.

The VindØ project will realise the Danish government’s ambition to create energy islands in the North Sea and can be financed entirely without state funds. The consortium said it is a large and demanding project, but it can be implemented using existing technology.

(DKK 1 = USD 0.146/EUR 53.6m)

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