ONDD

ONDD was cited as one of the export credit agency and credit-insurance entities involved in supporting the debt financing package for the Gemini offshore wind farm. Gemini is a 600MW offshore wind project in Dutch North Sea waters, located approximately 85km offshore Groningen and developed with 150 Siemens SWT-4.0-130 turbines, offshore substations, export cabling, and an onshore substation connection at Eemshaven. In the reported financing structure, ONDD’s participation was part of the export credit / credit insurance support that accompanied senior debt facilities provided by a consortium of commercial banks and the European Investment Bank. Export credit agency and credit-insurance involvement is commonly used on large offshore wind projects to reduce financing risk exposure, improve lender confidence, and facilitate capital deployment into construction—particularly where internationally sourced equipment and complex marine construction interfaces are present. The source explicitly listed ONDD together with Euler Hermes and EKF as export credit agency participants in the Gemini financing. ONDD’s role therefore aligned with the project’s development-to-construction phase, contributing credit support mechanisms that helped enable financial close and the subsequent build and commissioning programme that ultimately brought Gemini into full operation in 2017.