960 MW Offshore Wind Farm Inaugurated in Germany

EnBW Energie Baden-Württemberg AG (EnBW), Allianz, AIP Management and Norges Bank Investment Management have inaugurated the He Dreiht offshore wind farm in the presence of Federal Environment Minister Carsten Schneider. Its 64 turbines and an installed output of 960 MW make it Germany’s largest offshore wind farm.

It was built without state funding and is being financed solely through long-term power purchase agreements. He Dreiht will play a key role in maintaining security of supply and decarbonizing the energy system in the future, with the wind farm capable of covering the annual electricity needs of the equivalent of around 1.1 million households.

Back in 2017, EnBW was awarded the contract for He Dreiht in the first round of auctions for offshore wind farms in Germany, with no entitlement to state funding. The company holds 50.1 percent of the shares through a project company. The remaining 49.9 percent are held by a consortium made up of Allianz Global Investors on behalf of Allianz entities, AIP Management and Norges Bank Investment Management. Around EUR 2.4 billion (US$2.7 billion) is being invested in it.

Evonik, Google, the Telekom subsidiary PASM, Fraport, Bosch, Salzgitter, SHS Stahl-Holding Saar, Deutsche Bahn, and the DHL Group are among the contractual partners.