The Port of Esbjerg announced July 7 that it had entered into an agreement with PensionDanmark in a deal that will see the pension fund invest 7 billion Danish Krone ($1.032 billion) in developmental projects at the port.

A majority of the money (DKK 5.8 billion) will be used to construct offshore wind turbine production facilities, which will be completed by 2027. Another DKK 700 million will go towards carbon capture and CO2 storage processes. The final DKK 500 million will be used to make the Port of Esbjerg a multi-modal hub connecting sea, air and railroad transportation networks.

"Together with the port's companies, we will continue to be at the forefront of the wind industry, and an investment from PensionDanmark will be able to support both that role - and the role we would like to play in the development of green energy and CCS,” said Dennis Jul Pedersen, director of the Port of Esbjerg.