Port of Esbjerg gets funding from PensionDanmark

The Port of Esbjerg has entered into a cooperation agreement with PensionDanmark, a labour market pension fund, for investments of over $1bn for green energy projects, mainly offshore wind.

The future investments, which the collaboration is centred around, are expected to take place in three phases, with the expanded production facilities for offshore wind turbines constituting the first part and expected to be ready for use in 2027.

PensionDanmark said that some DKK 5.8bn ($852.5mn) will be invested in the offshore wind turbines construction facilities.

With its location by the North Sea, the Port of Esbjerg has a central role in the expansion of offshore wind, where 134 gigawatts must be established by 2030 and 300 gigawatts by 2050.

Around DKK 700m is earmarked for terminals for handling power-to-x and CCS. They will be built in the hinterland of Port of Esbjerg and in the North Sea, scheduled for operations to start in 2028. The port can, according to PensionDanmark, play a key international role, as the North Sea can store 400 to 700 times more CO2 than Denmark needs.

Finally, approximately DKK 500 million is expected to be invested in the development of the Port of Esbjerg as a multi-modal hub. It involves an interconnection between sea transport, the road network and the railway at Esbjerg Harbor as well as the connection to air freight to and from Esbjerg Airport. These measures are expected to be ready in 2032.

The investment will also go towards the development of flex terminals, logistics properties, and facilities for green fuels.