Thor
Denmark's largest offshore wind farm. Located 22 km west of Thorsminde, Jutland.
Status
Under Constructionlifecycle stage
DeliveringHafrok completion outlook
Ownership
RWE — 51% ◆
Location
DenmarkNorth Sea
Technology
Capacity
1,080 MW ◆
Turbines
72 × 15 MW ◆
Model
Siemens Gamesa SG 14-236 DD ◆
Foundation
Monopile ◆
Site & conditions
Site rights
Seabed rights held ∴
Origination
Thor offshore wind tender · 2021 ·
Water depth
28–28 m ◆
Distance from shore
22 km ◆
Wind speed
10.5 m/s @ 150 m ≈
Revenue & grid
Offtake
CfD ◆
Grid
Connected ◆
Connection
Grid connection completed by Energinet June 2025. 220kV export … ◆
Schedule
FID
Taken · date not recorded ∴
COD · announced
2027 ◆
COD · Hafrok
2027 expected
Delivery outlook modelled by Hafrok · calibrated on delivered projects
2027
expected year of commercial operation
Chance of delivery
≈98%
estimated chance this project reaches commercial operation
Under Construction projects complete ≈97% of the time on Hafrok's record. A secured offtake contract lifts this one slightly; its size and technical complexity pull a little the other way.
COD outlook
If it completes, when — Hafrok’s probability by year (teal) · the developer’s COD guidance, by date stated (ink)
| Year | Probability |
|---|---|
| 2026 | 1.3% |
| 2027 (expected) | 75.4% |
| 2028 | 21.7% |
| 2029 | 1.6% |
| Stated | Announced COD |
|---|---|
| 2026-03-17 | 2027 (held since 2021-12-01, 7 statements) |
How Hafrok got this date
1
Starting point: the last dated milestone
Construction start in
2024. From there Hafrok adds how long similar projects (in established offshore-wind markets) took to reach commercial operation, measured on projects that have delivered.2
Typical timing
Starting point plus the typical remaining time gives a middle estimate of
2025 Q3; the faster quarter of similar projects would be done by 2024 Q4, the slower quarter not until 2026 Q3. Dates already in the past are moved up to today — this project has run beyond the typical timing.3
Result
Expected commercial operation
2027, likely range 2025–2027 (the middle half of outcomes for similar projects). The developer's announced date falls inside that likely range, so the announced date is adopted.4
Year-by-year chart
The bars spread that estimate across years using how similar projects actually slipped against their dates — more often late than early, which is why the bars lean right.
5
Chance of delivery — separate from timing
Start from the share of Under Construction projects that went on to complete — ≈97%, measured on Hafrok's record of delivered and abandoned projects, with an allowance held back where that record cannot yet speak (projects still unresolved, changed market conditions). Based on the measured record — all 257 construction starts with a final outcome reached operation — adjusted down for projects still mid-build and for legal-challenge risk. Then adjust for this project's own evidence — offtake, market, size, technical complexity — to ≈98%, which rates it
Delivering on Hafrok's four-step delivery scale (Delivering · Expected · Prospective · Fragile).Project timeline & ownership verified milestones on the spine · ownership from Hafrok’s transactions record
Origination · 2021-12
Thor offshore wind tender
- Awarded to
- Thor Wind Farm I/S (RWE)
- Basis
- integrated tender
From the auction results — the round that created the project.
Farmdown · 2025-03
RWE → NBIM 49%
- Stake
- 49%
- Consideration
- not disclosed
- Announced
- 2025-03
- Closed
- 2025-06
- Project stage
- under construction
RWE sold a 49% equity stake in Thor (Denmark, 1000 MW) to Norges Bank Investment Management (NBIM, the Norwegian sovereign wealth fund) as part of a combined transaction that also included 49% of RWE's Nordseecluster project (Germany, 1560 MW). The combined deal value was approximately EUR 1.4 billion for the 49% stakes in both projects; no separate allocation between Thor and Nordseecluster was publicly disclosed by RWE or NBIM. Deal announced 31 March 2025; closed June 2025. RWE retains 51% and remains construction operator and long-term O&M partner. Thor under construction at announcement: foundations completed Sep 2025; turbine installation starting spring 2026; COD 2027. RWE was sole owner of Thor from winning the December 2021 tender until this transaction. EIB provided EUR 1.2bn green loan to Thor in June 2024 separately. Note: A companion record for Nordseecluster (Germany) should be created in Batch 4 Group B (DE projects).
Evidence
- RWE AG — RWE and Norges Bank Investment Management join forces for Nordseecluster and Thor offshore wind projects ↗ 2025-03-31 ◆ held
- offshoreWIND.biz — Norwegian Sovereign Fund Completes EUR 1.4 Billion Thor, Nordseecluster Buy-In ↗ 2025-03 ◆ held
- nbim.no — New investment in renewable energy infrastructure | Norges Bank Investment Management ↗ 2025-03 ◆ held
- RWE — RWE — rwe interim report h1 2025 ↗ 2025-08-14 ◆ held
From Hafrok’s transactions record
Dashed tick marks today (13 Oct 2026). The ▲ below the spine is the developer-announced COD. The teal diamond on the spine is origination — the seabed award or round that created the project. Every other ownership event lives in the band below: one station per recorded deal, dated at its label, in deal order rather than to calendar scale. Secondary trades appear only at the interchanges; grey lines are parties whose entry or exit Hafrok’s record does not hold.
Announced COD: held (announced 2027, unchanged) · the full guidance history is in the delivery chart above
Revenue & offtake the regime the project was built under
Offtake regime on record
RegimeDanish state tender CfD (DKK 0.01 øre/kWh — negative subsidy, developer pays state)
InstrumentCfD
A built project sells its power under the contract or support regime it was financed with; it is not expected to bid into new government offtake rounds. Where the record does not yet name that regime, the row says so rather than guessing.
Installation how the build is going · from sourced statements and Hafrok’s registers
Installation under way
Installation · on record
StageUnder Construction
Offshore constructionstarted 2025-04
Turbines36 of 72◆50% · as of 2026-07-17 (date published) · reported by RWEExpected start of operation2027
Construction ports
PortPort of Esbjerg ◆·turbines · quay 10000 m · crane 300 t · draft 15 m
Installation contracts
FoundationsMPI Adventure◇Van Oord · turbine installation vessel · 2025 → 2025-11 · Completed
FoundationsLes Alizés◇Jan De Nul · foundation installation vessel · 2025-04 → 2025 · Completed
TurbinesBrave Tern◇Fred Olsen Windcarrier · turbine installation vessel · 2026-03 → · UnderwayGrid connection
from Hafrok’s substation, converter and cable registers
Offshore platforms · 1
Offshore substationThor Offshore Substation·under construction · owner Thor Wind Farm I/S (RWE 51% / Norges Bank Investment Management 49%)
Grid connection · ready in time?
when each part of the grid connection is due, against the start date the developer states (black line) and the year Hafrok expects (teal band) · a bar spans the whole year, quarter or month the source gives
installed or in serviceexpected deliveryearlier date that was later moved
Sources & verification
Rests on 15 sources (17 primary) · ◆ 11 documents held
◆Verified≈Modelled◇Sourced∴Inferred⌁Convention○Unverified∅No source·Derived
Numbers are stable citation ids — grouped by source class, so they are not consecutive.
Regulator3
[1]
Energistyrelsen (Danish Energy Agency)2024-10-31◆ Thor establishment permit (etableringsti…
“Energistyrelsen har den 31. oktober 2024 givet etableringstilladelse til Thor Havvindmoellepark. Moellerne placeres med en afstand paa 22-34 kilometer ud for Thorsminde. Projektomraadet udgoer ca. 200…”
supportsConsentDistance from shoreCoordinatesConsent appliedConsent granted
[2]
Energistyrelsen (Danish Energy Agency)2021-12-01◆ DEA Thor result
“Thor Wind Farm I/S, where stakeholders are RWE AG, RWE Renewables GmbH, RWE Renewables Management UK Limited [won] following a historically low bid price ... a minimum price of only 0.01 oere/kWh ... …”
supportsMechanismDetail
[6]
Norwegian Environment Agency (Miljodirektoratet) — Espoo consultation2022-05-25
“Thor OWF is planned within a 220 km2 site approximately 22 km from the west coast of Jutland, off Thorsminde ... nominal installed capacity of approx. 1,000 MW ... a maximum of either 72 or 48 turbine…”
supportsFoundationDistance from shore
Operator7
[3]
RWE2021-12-01◆ Success in offshore auction: RWE secures…
“RWE secures concession for 1,000-megawatt wind farm off the Danish coast ... awarded the concession ... by the Danish Energy Agency ... scheduled to reach full operation in 2027 ... Denmark's largest …”
supportsTotal capacityMechanismDetail
[8]
RWE2024-10-31◆ First foundations for RWE’s Danish offsh…
“The Danish Energy Agency has granted RWE the offshore construction permit for its Danish offshore wind farm Thor ... Offshore work will begin - as planned - in spring 2025 ... Located approximately 22…”
supportsOnshore constructionOffshore constructionturbines
[9]
RWE2026-03-17◆ First generation at Thor offshore wind f…
“Shortly after the installation of the first turbine, Thor delivered electricity into the Danish grid for the first time. The grid is operated by Energinet ... 1.1-gigawatt project with RWE holding 51%…”
supportsFinal investment decisionFirst powerCOD historyStatusConnection point
[12]
RWE2025-06-04◆ Rwe and nbim jointly realise offshore wi…
“NBIM now holds a 49% equity stake in both the Nordseecluster and Thor offshore wind projects. RWE, with a 51% stake, remains in charge of construction and operations throughout the lifecycle of these …”
supportsoperatorowner
[15]
RWE2026-03-04◆ First turbine up at denmarks largest off…
“RWE has achieved a significant milestone in the construction of the 1.1-gigawatt Thor offshore wind farm by successfully installing the first turbine off Denmark's west coast near Jutland. ... Thor wi…”
supportsBrave Tern — turbine installation
[17]
RWE2025-11-11◆ Foundation installation works completed …
“RWE has completed the installation of the foundations for the 1.1-gigawatt Thor offshore wind farm in the Danish North Sea. In September, the final of 72 monopiles for the wind turbines was installed.…”
supportsOnshore constructionOffshore constructionMPI Adventure — foundation installation
[18]
RWE2025-04-30◆ Rwe installs first foundation at thor of…
“RWE has taken an important step in the construction of the 1.1 gigawatt (GW) Thor offshore wind farm in the Danish North Sea: the first of 72 monopile foundations has been successfully installed.”
supportsOnshore constructionOffshore construction
Financier1
[5]
European Investment Bank2024-06-25
“The EIB supports the construction of a new 1.1-Gigawatt wind farm ... with a loan of EUR 1.2 billion ... 72 wind turbines with 15 MW capacity each ... approximately 22 kilometres from Thorsminde ... T…”
supportsCommercial operationUnit capacityTotal capacityFoundationDistance from shore
OEM1
[4]
Siemens Gamesa2023-01-12◆ Tremendous Thor: RWE selects Siemens Gam…
“72 units of Siemens Gamesa's flagship SG 14-236 DD offshore wind turbines are planned to be installed ... It features a capacity of almost 15 MW ... 1,000-MW offshore wind power plant in Denmark. ... …”
supportsTurbinesModelUnit capacityTotal capacity
Record source1
[22]
Jan De Nul Group2025-04-30◆ first-foundation-denmarks-largest
...pril 2025, Jan De Nul kicked off the installation campaign of the monopile foundations for RWE’s Thor offshore wind farm. Heavy-lift vessel Les Alizés installed the first of 72 monopiles for Denmar…
supportsLes Alizés — foundation installation
Trade press2
[11]
NS Energy Business
Press report — cited, not quoted; read it at the source link.
supportsWater depth
[13]