9 April 2021

Ørsted brings in Norges Bank Investment Management as a partner in Borssele 1 & 2

Nicolien van den Biggelaar
Menno Stoffer
Wiebe Dijkstra
+ 15 other experts

De Brauw's multi-disciplinary energy group, together with Slaughter and May, assisted Danish developer Ørsted in the sale of 50% of its ownership share of the 752 MW Borssele 1 & 2 offshore wind farm to Norges Bank Investment Management (NBIM). De Brauw's team provided Ørsted with extensive support on a wide range of topics. Signing took place on 7 April 2021, closing is expected around summer 2021. The total value of the transaction is approx. EUR 1,375 billion.

Borssele 1 & 2 kickstarted the Netherlands’ ambitious programme for offshore wind buildout and will help the country meet its 2030 carbon reduction goals. The wind farm generates green power to the equivalent of one million households’ annual power consumption in the Netherlands. In 2017, Ørsted won the tender and was granted the right to develop the wind farm, including the required permits and subsidies. In the fourth quarter of 2020, commissioning of the wind farm took place.