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Danish partners present 10 GW Danish energy island plans

By: Tom Russell 22/05/2020 PensionDanmark

General Windfarms

A consortium consisting of three of the largest Danish pension and energy companies is ready to finance and operate an upcoming energy island - called VindØ - in the North Sea. The companies claim that VindØ can be the base for up to 10 GW of offshore wind, and that the government's ambition for an energy island in the North Sea can be financed entirely without government funding.

In continuation of the government's understanding paper from summer 2019 and the announcement in connection with the climate action plan, PensionDanmark, PFA and SEAS-NVE are ready to finance VindØ in the North Sea - initially with up to DKK 400 million - to develop the project. The partners are assisted by Copenhagen Infrastructure Partners, a green infrastructure investment company developing major offshore projects worldwide.

With VindØ, this is an island made up of concrete submersible boxes approximately 100 km out in the North Sea, where energy from the wind turbines can be collected and sent ashore. The distance to the coast ensures that the wind turbines cannot be seen from land.

The state-owned Energinet, which owns the overall energy infrastructure in Denmark, can buy part of the island to install transmission cables ashore, ensuring public ownership of the transmission network.

VindØ will be able to be expanded continuously, in line with the development of storage technology or, for example, Power-to-X, as well as the connection of VindØ to other countries around the North Sea.

“An energy island in the North Sea is an important part of an economically sound expansion of offshore wind capacity. It also has the potential to become an export product to those parts of the world where the coming decades of sea wind expansion will take place. Experience from the North Sea could be disseminated to the rest of the world,” said Torben Möger Pedersen, CEO of PensionDanmark.

“Denmark is a pioneer in driving the green transition, and it requires significant investments to meet the ambitious goals the government has set. A wind island in the North Sea will add even more momentum to the green transition, while at the same time creating value for Denmark's pension savers. That is why we at PFA are ready, together with the others in the consortium, to lift this historic project, thereby ensuring that PFA's DKK 1.3 million is raised. Customers' savings come out and work in the best possible service, "said Kasper Ahrndt Lorenzen, Group Investment Director at PFA Pension.

“In future, the energy needs of society must be covered even more by renewable energy sources if we are to succeed with the green transition. And we should. At SEAS-NVE, we have a long tradition of taking significant co-responsibility for developing the Danish energy system. A development that is driven by strong professional insight. Among other things, this is the knowledge we can bring into play in connection with VindØ. Most recently, we have concrete experience from energy storage experiments, ”said Jesper Hjulmand, CEO, SEAS-NVE.

The energy island project by the Danish pension and energy companies follows the Danish government's proposal to establish two offshore wind energy islands as part of a its climate action plans. The proposal envisions the islands supplying 4 GW of offshore wind or more than twice as much as is listed today.

For more information on offshore wind farms worldwide, click here.

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Danish partners present 10 GW Danish energy island plans

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