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Northland Power calls it quits on Deutsche Bucht mono buckets

By: Tom Russell 17/03/2020 Northland Power

General Windfarms

Northland Power Inc. has decided to permanently forego its plans to install two demonstration turbines at the Deutsche Bucht offshore wind project using mono bucket foundations.

The mono bucket design foundations were planned to demonstrate the feasibility of the technology. During installation, the foundations would have used their own weight and vacuum pressure to embed firmly in the sea floor. This method eliminates the need for pile driving, and consequently, for noise mitigation measures such as big bubble curtains.

As announced on February 25, 2020, the installation of the demonstrator project was paused in the fourth quarter of 2019 following the identification of technical issues. An evaluation of the cause of the technical issues is underway and will not be completed until mid-year. Due to the timing issues associated with the technical review, among other considerations, Northland Power states that it has halted the project.

The Deutsche Bucht offshore wind farm is located over 100 km offshore in the German North Sea. The 269 MW project will features 31 MHI Vestas V164-8.0 MW turbines installed on monopile foundations. The turbines were generating power by the end of September 2019.

Northland stated that its decision not to proceed with the demonstrator project will not impact its 2020 financial guidance, since the contributions from the demonstrator project were excluded from guidance estimates provided. For 2020, management continues to estimate adjusted EBITDA in the range of $1.1 billion to $1.2 billion and free cash flow per share in the range of $1.70 to $2.05 per share. Deutsche Bucht's contributions to 2020 adjusted EBITDA are forecasted in the range of €145 million to €165 million (previously €155 million to €175 million).

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Northland Power calls it quits on Deutsche Bucht mono buckets

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