Ørsted and ATP have teamed up to make an offer for the Danish North Sea energy island’s upcoming tender.
The world’s leading offshore wind developer and Denmark’s largest institutional investor have joined forces in this new alliance.
Ørsted and ATP hope to make a major contribution to Denmark’s ambitious green transformation, energy infrastructure build-out, and shape the potential build-out of large-scale offshore wind by submitting a joint bid for the energy island in the North Sea. The collaboration aims to grow the significant renewable energy resources in the Danish North Sea by combining the two companies’ broad industrial and financial capabilities. These tools can be built over the next few decades to help Europe make the transition to a greener economy.
The North Sea energy island will be a key component in harnessing Denmark’s offshore wind resources, which can contribute significantly to Denmark’s and Europe’s green transformations while also creating thousands of jobs in the country.
Ørsted has built more than 25 offshore wind farms and 17 offshore transmission systems around the world as one of the world’s largest renewable energy firms, and as the world’s leading developer of offshore wind, Ørsted has the industry’s strongest capabilities in building large-scale energy projects at sea. Furthermore, Ørsted has built a strong portfolio of Power-to-X projects in the North Sea, all of which will be linked to large-scale offshore wind. The optimum integration of Power-to-X with the energy island and potential energy networks in the North Sea will be investigated by Ørsted and ATP.
ATP has more than 5.3 million members and DKK 960 billion in assets. The partnership will offer an ambitious, state-of-the-art technical solution with a clear social emphasis to benefit all Danes, thanks to ATP’s long-standing expertise as a financial partner and a mission to protect the pension funds for future generations of Danes.
“The North Sea energy island will be absolutely key to the continued build-out of offshore wind in the Danish North Sea. For the past 30 years, Ørsted has been the frontrunner in offshore wind development, making the technology a cornerstone of an economically sustainable, green transformation in Denmark and globally. By partnering with ATP to submit a bid for the Danish North Sea energy island, we’re combining Ørsted’s world-leading offshore wind expertise with ATP’s unique track record as one of Europe’s largest institutional investors. We look forward to working with ATP and doing our part to realise this groundbreaking infrastructure project with the best technological solutions at the lowest cost and risk to the benefit of the Danish society.”
Mads Nipper, CEO of Ørsted
“The North Sea energy island is a very interesting investment case for ATP, because 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. The investment is, of course, not without risk, for which our members must be compensated, but Ørsted and ATP make up a strong partnership with the right complementary capabilities to deliver on this task. And then I’m also pleased that we, in this partnership, can secure that the returns from the project will benefit all Danes through ATP.”
Bo Foged, CEO of ATP
