Ørsted has applied for a loan with the European Investment Bank (EIB) for the 752MW Borssele 1 + 2 offshore wind farm in the Netherlands.
The project will finance the construction and the operation of the wind farm.
The proposed EIB financing is about EUR 500 million, and the estimated value of the project is around EUR 1.5 billion.
The application is currently under appraisal.
Expected to be operational by the end of the year, the Borssele 1 + 2 wind farm will comprise 94 Siemens Gamesa 8MW turbines installed some 22 kilometres from the coast of the Dutch province of Zeeland.
Offshore construction at the site started earlier this month with the installation of the first monopile foundations.