Fid Financial Close

On 22 April 2009, DONG Energy (now Ørsted) announced that it had decided to build the Walney II offshore wind farm in the Irish Sea, marking the project’s Final Investment Decision and effective financial close. The decision was explicitly linked to the UK Government’s announcement the same day to increase offshore wind support to 2 Renewables Obligation Certificates (ROCs) per megawatt hour, which DONG Energy states “has provided the foundation on which to commence construction.” Walney II is described as being affiliated with the already‑planned Walney I offshore wind farm, with both projects forming the first stages of a larger development of up to 600 MW at the site, located 15 km off the north‑west coast of England.[1][2] In the same announcement, DONG Energy discloses that the expected investment in Walney I and Walney II together is DKK 9.7 billion, and that the combined capacity of the two wind farms will be 367 MW using 102 Siemens turbines under a previously signed large‑scale supply contract. The statement also provides indicative delivery timelines, with Walney I planned for completion at the beginning of 2011 and Walney II expected to be completed in 2012, underscoring that the FID enables an imminent start to construction activities. The company notes that this investment decision is consistent with its existing 2009 financial guidance, highlighting that the strengthened UK support framework has unlocked the commercial basis for Walney II to proceed.[1][2]