The European Investment Bank (EIB) has approved a €500 million financing for the Borssele 1 & 2 offshore wind project in the Netherlands.
At the beginning of the year, Ørsted applied for a loan with the EIB which will finance the construction and the operation of the 752 MW wind farm.
The estimated value of the project is around €1.5 billion.
Borssele 1 & 2 will comprise 94 Siemens Gamesa 8 MW turbines located 22 kilometers off the coast of the province of Zeeland.
The wind farm, which delivered first power to the Borssele Alpha substation at the end of April, is scheduled to be commissioned on 5 October.