By Dominic Chopping 
 

Orsted AS said Thursday that it will submit a joint bid with Danish pension company ATP to build and finance Denmark's planned energy island in the Danish North Sea.

The renewable-energy developer will join forces with ATP to bid on the artificial island that will be built to connect and distribute power from offshore wind farms. The island will be majority owned by the state, in collaboration with one or more private companies, with tenders expected next year and the winner named at the beginning of 2023.

Initial plans are for the island to have a capacity of 3 gigwatts, equivalent to the power consumption of three million households, but it will be gradually expanded to 10 gigawatts to cover the consumption of 10 million households.

"The North Sea energy island will be a cornerstone in harnessing the Danish offshore wind resources, which can make a substantial contribution towards Denmark's and Europe's green transitions and create thousands of jobs in Denmark," Orsted said.

Write to Dominic Chopping at dominic.chopping@wsj.com

(END) Dow Jones Newswires

April 22, 2021 04:35 ET (08:35 GMT)