ENGIE has announced that it has signed a four-year power purchase agreement (PPA) with OWP Arkona, a joint venture between E.ON and Equinor (formerly Statoil), to purchase the entire production of the Arkona offshore wind farm, located in the Baltic Sea, totaling 1.5 TWh / year.
Under the terms of the agreement, ENGIE will exclusively purchase the electricity generated by the wind farm, which has a generation capacity of 385 MW, to market it on the German day-ahead and intraday market for a period of four years. At the same time, ENGIE will manage various market-related risks for OWP Arkona.
This PPA is the result of a competitive tender.
The Arkona wind farm is currently in the final stage of construction. Installation of the offshore substation, turbine foundations and cabling to connect the turbines to the offshore substation has been completed. Turbine installation and grid connection is scheduled to be completed before the end of this year.
Country updates
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