Export Finance Norway (Eksfin) has approved a loan financing of EUR 525 million for Ørsted of Denmark. The financing is earmarked for the procurement of two transformer platforms from Norway’s Aibel for the Hornsea 3 offshore wind farm project in the UK.
This transaction brings Eksfin’s total offshore wind financing to nearly EUR 3.5 billion. Situated off the Norfolk/South Yorkshire coast, Hornsea 3 is projected to generate a minimum of 2.9 GW of electricity upon its operational launch in 2027. It will mark Ørsted’s third gigawatt-scale project in the Hornsea zone, following the already operational Hornsea 1 (1.2 GW) and Hornsea 2 (1.3 GW) projects. Through partnerships with banks, Eksfin provides state-backed loans and guarantees directly to developers, facilitating equipment and services procurement from Norway.
