Denmark’s ATP and Ørsted in “cornerstone” energy island bid

atp_renewable energyDanish power company Ørsted has joined forces with pension fund ATP in a bid to purchase a key energy island in the North Sea.

The island - which is yet to be built - will be a “cornerstone” in harnessing Danish offshore wind resources and is set to make a strong contribution to both Denmark’s and Europe’s green transitions whilst creating thousands of jobs.

ATP chief executive, Bo Foged, said the island made a good investment case for the pension fund, the largest in the country.

“It can contribute to good and stable pensions and develop Danish industrial positions of strength while also being a decisive lever for the green transition in Denmark,” he said.

But, he highlighted, the energy island investment is not without risk, for which members must be compensated.

Meanwhile Mads Nipper, CEO of Ørsted, said: “The North Sea energy island will be absolutely key to the continued build-out of offshore wind in the Danish North Sea.”

Ørsted is one of the world’s largest renewable energy companies, and the biggest in Denmark. The firm has constructed over 25 offshore wind farms and 17 offshore transmission systems.

Financial details of the bid have not yet been disclosed.

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