Denmark’s largest pension fund PensionDanmark is to invest in Stiesdal, which develops foundations for floating offshore wind, energy storage technology, power-to-X and a range of other clean technologies
Stiesdal A/S founder and chief executive Henrik Stiesdal said, “With PensionDanmark joining our group of owners, we will be in a strong position. PensionDanmark is known for having sustainability and responsibility as part of its DNA and for focusing on renewable energy and job creation. This fits perfectly with our values and vision.”
PensionDanmark chief executive Torben Möger Pedersen said, “Our investment in Stiesdal offers considerable return potential, and at the same time the company is favourably positioned to contribute towards mitigating climate change and creating new jobs in Denmark. This makes it a perfect match for us.”
Later in 2021, Stiesdal expects to install a demonstration project involving one of its TetraSpar floating foundations off the Norwegian coast with financial support from Shell, RWE and TEPCO, Japan’s largest utility company.
“Stiesdal is a young business, but they have proven able to innovate, develop tangible solutions and establish partnerships that really contribute towards the green transition,” said Mr Pedersen.
Mr Stiesdal is a wind energy pioneer who designed his first wind turbine in 1976 and sold an updated design to Vestas in 1979. From 2004 to 2014, he was chief technology officer at Siemens Wind Power.
PensionDanmark will invest in Stiesdal by subscribing new shares. Concurrently, the company’s existing owners will contribute fresh capital.
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