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Ørsted secures planning approval for Borkum Riffgrund 3

By: Tom Russell 21/10/2021 Ørsted

General Windfarms

The Federal Maritime and Hydrographic Agency (BSH) has given Ørsted official approval for the Borkum Riffgrund 3 offshore wind farm. In March of this year Ørsted received the planning approval for Gode Wind 3, which is to be built together with Borkum Riffgrund 3.

Ørsted has so far signed long-term fixed price corporate power purchase agreements on Borkum Riffgrund 3 for a total of 450 MW. Following the farm-down and the corporate PPAs that have been signed to date, Ørsted’s merchant exposure in the first 10 years will be limited to the fixed and collared tranche agreement under the offtake agreement with Glennmont. Ørsted is continuing to work on a pipeline of additional PPAs with the aim to further optimise the remaining merchant exposure in the first 10 years and in the later years of the project.

Borkum Riffgrund 3 is expected to become operational in 2025. It will have a total export capacity of 900 MW and will be built in the German North Sea close near Ørsted's Borkum Riffgrund 1 and Borkum Riffgrund 2 operational offshore wind farms.

Borkum Riffgrund 3 will be Ørsted's largest offshore wind farm in Germany to date. With an export capacity of 900 megawatts, it will also be the largest offshore wind farm in Germany. It will feature 83 Siemens turbines with a nominal output of 11 MW and a rotor diameter of 200 meters. It will cover an area of around 75 km², around 72 km off the Lower Saxony coast and 53 kilometers off the island of Borkum.

Ørsted has secured fixed income for the project through several so-called Corporate Power Purchase Agreements (CPPA), as most recently with the REWE Group. In addition, Ørsted announced this week that a 50% stake in the project has been sold to investor Glennmont Partners.

The construction of Borkum Riffgrund 3 is to be implemented in parallel with the Gode Wind 3 project and will go into full commercial operation in 2025. Gode Wind 3 is expected to start operating as early as 2024. The operational management of both wind farms will be carried out from the company's location in Norden-Norddeich in East Frisia. A final investment decision by Ørsted for both projects is still pending and is expected for the end of 2021.

Jörg Kubitza, Managing Director of Ørsted in Germany: “With the planning approval for Borkum Riffgrund 3, both of our future German projects are well on the way to being implemented. Taken together, we will then commission an additional 1,142 MW in Germany. This means that we are facing the largest building that we have ever completed in Germany. With our projects that are already in operation, we have then installed a performance comparable to that of three medium-sized coal-fired power plants on the sea - more than any other company. In addition, Borkum Riffgrund 3 will be the first offshore wind farm for which we have concluded large-volume electricity supply contracts with several companies. We are thus making a significant and direct contribution to the decarbonization of these industries. "

“In this context, I would also like to express our praise and thanks for the great cooperation with the BSH. The cooperation for this project was characterized by an open and trusting exchange with our team. Against the background of the special features of the wind farm, with a number of new aspects that had to be considered, it was a remarkable job on the part of the BSH,”continues Kubitza.

For more information on offshore wind farms worldwide, click here.

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Ørsted secures planning approval for Borkum Riffgrund 3

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