By 2020, Vattenfall expects to double its wind capacity to 4,000 MW and invest more than SEK 50 billion (about 5 billion euros).
Vattenfall has acquired a wind-development project consisting of up to 79 turbines in the German North Sea. The acquisition is in line with Vattenfall’s growth strategy to extensively expand its renewable-energy production in the coming years.
The Global Tech II wind project is located in the German North Sea, some 85 kilometers north of the island of Borkum, in an area of about 47 square-kilometers.
“The acquisition underlines once more that our growth ambitions in wind are under full steam,” said Gunnar Groebler, Senior Vice President and Head of Business Area Wind at Vattenfall. “As a company we are on a good way to reshape our generation portfolio towards more renewable energies in all our markets.”
The Global Tech II project is owned by Northern Energy Global Tech II, which Vattenfall has acquired as of August. The seller is Erste Nordsee-Offshore-Holding, a joint subsidiary of Austrian STRABAG SE and indirecly Etanax GmbH. The parties have agreed to not disclose the purchase price.
“With Global Tech II we also send a signal that we strongly believe in the German market. In particular we consider the new German tender system beneficial to the development of wind as it is more cost efficient, which will also lead to further acceptance of this effective and renewable power generation,” added Groebler.
The agreement depends on obtaining a capacity contract in the tendering process, with the first auction in March 2017 and the second auction in March 2018.
Filed Under: News, Offshore wind
