Commercial Operations Full Power

DELAYED +1yr (Apr 2026): Energinet's LUP24 geographic project list gives a 2027 idriftsættelsesår for the 132 kV Lolland og Sydsjælland fase 3+4 project, which includes the Vordingborg Nord–Orehoved (ORH‑VONØ) connection, and earlier projections therefore assumed full commercial operation by end‑2027. Since then, the expected start of ORH‑SPA onshore construction has slipped beyond the original April 2025 window and the ORH‑VONØ offshore cable installation is now projected to complete around mid‑2028 rather than summer 2027. With both cable completion and ORH/VONØ substation commissioning moving into 2028, it is no longer realistic to maintain a 2027 full‑power COD. Applying the sceptical adjustment recommended when earlier milestones slip, I move expected commercial operation to end‑2028 to allow time for energisation, testing and ramp‑up after the revised commissioning date, while explicitly noting that Energinet's own LUP24 documentation still cites 2027. DELAYED +1yr (Apr 2026): Energinet’s LUP24 geographic project list sets expected idriftsættelse for the 132 kV Lolland og Sydsjælland fase 3+4 project (including Vordingborg Nord–Orehoved/ORH‑VONØ) to 2027, while the earlier plan assumed 2026‑10. COD is shifted to late 2027 to align with this 2027 idriftsættelsesår and the offshore schedule. --- The 132 kV cable connection project linking station Spanager (SPA), the new station Vordingborg Nord (VONØ), and Orehoved (ORH) – including the ORH-VONØ section – is planned to be commissioned and enter full operational service in Q4 2026, enabling strengthened transmission of increasing volumes of green electricity from Lolland-Falster and South Zealand toward major consumption areas and interconnections abroad.