EUR 1 bn offshore wind in Germany reaches full completion

Northland Power Inc's 252 megawatt (MW) Deutsche Bucht offshore wind project in the German North Sea has achieved full completion.

The farm is located approximately 95 km northwest of the island of Borkum. All 31 monopile foundation turbines have been generating power since the end of September 2019 and to date, have generated over EUR130 million (US$140.4 million) of pre-completion revenues. Final completion marks the official end of construction and the start of the operational phase of the project, and also signifies that the terms required to satisfy the project lenders for term conversion have been achieved.

“Achieving this milestone is the culmination of the efforts and dedication put forth by our project team to see the project through to completion,” said Mike Crawley, Northland’s President and Chief Executive Officer. “The successful completion of our third offshore wind farm solidifies Northland’s position as a global player in offshore wind development and underscores our ability to deliver large‐scale sustainable energy infrastructure projects that create long‐term value for shareholders.”

Deutsche Bucht is 100% owned by Northland and is expected to produce an annual output of approximately 1.0 billion kilowatt-hours of climate-friendly electricity. This is enough to serve the power needs of approximately 300,000 German households while saving nearly 700,000 tonnes of CO2 emissions per year.