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Orsted and Covestro sign Borkum Riffgrund 3 Offshore Wind PPA

Power News - Published on Thu, 12 Dec 2019

Image Source: Borkum Riffgrund 3 Wind Farm
Leading supplier of high performance polymer materials Covestro has signed a 10 year corporate power purchase agreement with Ørsted to buy the output of 100MW from the planned Borkum Riffgrund 3 offshore wind farm which is expected to be fully commissioned in 2025, subject to Ørsted's final investment decision. The PPA will be effective from 2025.

Facts about Borkum Riffgrund 3

Subject to Ørsted's final investment decision, Borkum Riffgrund 3 is expected to be fully commissioned in 2025

Borkum Riffgrund 3 will have a total capacity of 900MW and will be located in the German North Sea adjacent to Ørsted's existing offshore wind farms Borkum Riffgrund 1 and Borkum Riffgrund 2

The wind farm will be built and operated without subsidies. This is made possible by a set of cost drivers including the installation of next generation wind turbine technology, very good site conditions and high wind speeds, grid connection costs not being part of the project, plus the potential for stabilising revenues through corporate power purchase agreements

Borkum Riffgrund 3 comprises three offshore wind projects which were originally awarded to Ørsted in auctions in 2017 and 2018 under the names of Borkum Riffgrund West 1, 420MW, Borkum Riffgrund West 2, 240MW, and OWP West 240MW. The three projects were renamed in September 2019 and will be built as one joint project under the name of Borkum Riffgrund 3.

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Posted By : Arun Huidrom on Thu, 12 Dec 2019
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