Orsted and ATP join forces for bid on North Sea energy island

Orsted and ATP will submit a joint bid in the upcoming tender for the Danish North Sea energy island.

The partnership brings together the capabilities of the world's leading offshore wind developer and Denmark's largest institutional investor

In a press release, the companies said that by submitting a bid together for the energy island in the North Sea, Orsted and ATP wanted to make a significant contribution to Denmark's ambitious green transition, its build-out of energy infrastructure, and shape the future build-out of large-scale offshore wind.

The partnership builds on the two firms' strong industrial and financial capabilities with a focus on developing the significant renewable energy resources present in the Danish North Sea. Those resources could then be developed over the coming decades, driving Europe's green transition.

“The North Sea energy island will be a cornerstone in harnessing the Danish offshore wind resources, which can make a substantial contribution towards Denmark's and Europe's green transitions and create thousands of jobs in Denmark,” read the press release.

Orsted had already constructed more than 25 offshore wind farms and 17 offshore transmission systems across the world, and was already the world's leading developer of offshore wind.

Mads Nipper, CEO of Orsted, said: "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, Orsted 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 Orsted'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."

Bo Foged, CEO of ATP, says: "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."