Dong Energy has announced the signing of a £250 million guaranteed loan facility with the European Investment Bank (EIB) to support the construction of the London Array offshore wind farm.
The loan has been guaranteed by the Danish Export Credit Agency (EKF) and will fund the purchase of wind turbines and pilings from Siemens Wind Power and Per Aarsleff, respectively.
Dong is one of three partners developing the London Array project, the world’s largest offshore wind farm. The project’s first phase will have a capacity of 630 MW and is scheduled to start operating in 2012.
“Dong Energy’s goal is to reach at least 3000 MW of wind turbine capacity by 2020, and London Array is a cornerstone in this transition towards a greener future,” said Dong CEO Carsten Krogsgaard. “The EKF guaranteed EIB funding of the project supports our robustly financed investment programme.”
Dong’s partners in London Array are Masdar and E.On.
