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Ørsted makes final investment decision for German duo

By: Tom Russell 01/12/2021 Ørsted

General Windfarms

Ørsted’s Board of Directors has taken final investment decision (FID) on two German offshore wind farms, Gode Wind 3 and Borkum Riffgrund 3, which are expected to be commissioned in 2024 and 2025 respectively.

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 expects the installation of Gode Wind 3 to begin in 2023, with commissioning being completed in 2024. The array will be built about 32 kilometres off the island of Norderney, and will consist of 23 turbines with a combined capacity of 242 MW.
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.
On 19 October this year, Glennmont Partners became a 50% shareholder of Borkum Riffgrund 3. The agreement with Glennmont was made subject to certain conditions precedent, including Ørsted’s final investment decision. With the final investment decision, project permit, merger clearance, and foreign investment clearance now in place, Ørsted expects to complete the transaction no later than Q1 2022.
Rasmus Errboe, Head of Region Continental Europe at Ørsted, said: “Borkum Riffgrund 3 is a landmark project, and we’re proud that Ørsted is once again leading the way by being the first to take FID on a merchant offshore wind project in Germany. We’ve brought this project forward by signing several large-scale power purchase agreements with leading corporates, bringing in a partner for 50% of the wind farm, and procuring and installing Borkum Riffgrund 3 and Gode Wind 3 as one gigawatt-scale project.”
Jörg Kubitza, Managing Director for Ørsted in Germany, adds: “With the decision to build Gode Wind 3 and Borkum Riffgrund 3, we’ll expand our German portfolio to six offshore wind farms and a total investment volume since 2012 of around 7.5 billion euros. While Borkum Riffgrund 3 will be the biggest wind farm in Germany to date, gigawatt-scale wind farms should be the norm when planning future offshore wind buildout. Large-scale projects will be key to securing the green energy volumes needed to reach climate neutrality in Germany by 2045, an effort for which offshore wind remains the most suitable source of renewable energy.”

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

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Ørsted makes final investment decision for German duo

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