2019-12-16
http://w3.windfair.us/wind-energy/news/30974-orsted-holland-netherlands-offshore-tender-bid-green-hydrogen-wind-farm-finances

News Release from Ørsted (Orsted)

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Ørsted Joins Tender Process for Holland Coast South 3&4

Ørsted will be submitting a bid in the Dutch offshore wind tender for Holland Coast South 3&4.

Image: ØrstedImage: Ørsted

Ørsted has also already taken the final investment decision on the project. Martin Neubert, Executive Vice President and CEO of Ørsted Offshore, says: "We're progressing very well with Borssele 1&2. Working on the Netherlands' largest offshore wind farm has given us valuable insights and experience which we will leverage on Holland Coast South 3&4. As a strong sign of our commitment, the Board of Directors of Ørsted A/S has already approved the final investment decision for Holland Coast South 3&4. The funding is secured and guaranteed on our balance sheet, so if the Dutch government selects Ørsted, they can be certain that the wind farm will be built."

As part of its bid for Holland Coast South 3&4, Ørsted is working to establish green hydrogen projects which will be linked to Ørsted's Dutch offshore wind farms.

"Using offshore wind to produce green hydrogen from electrolysis is an enabler to decarbonize other sectors such as heavy industries and transport. Production and sale of green hydrogen to large industrial customers can help stabilize revenues from offshore wind farms which rely on the market price of power like Holland Coast South 3&4 will. We are ready to scale-up and bring down costs of green hydrogen like we have done with offshore wind," says Henrik Poulsen,CEO and President of Ørsted.
 

Source:
Ørsted
Author:
Press Office
Keywords:
Ørsted, Holland, Netherlands, offshore, tender, bid, green hydrogen, wind farm, finances



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