Gulf Energy completes purchase of 50% stake in 464.8 MW Borkum Riffgrund 2 offshore wind project in the North Sea
Gulf Energy Development has finalized the acquisition of a 50% stake in the Borkum Riffgrund 2 offshore wind farm located off the coast of Germany. The purchase of the stake from Global Infrastructure Partners was valued at EUR558 million (US$651.4 million), and was first announced in July 2020.
Ørsted will continue to own the remaining 50%.
Located in the German North Sea, northwest of Germany, Borkum Riffgrund 2 has commenced commercial operation in April 2019. The project consists of 56 units of MHI Vestas’ 8 MW wind turbines with rotor spans of 164 meters. It will produce green energy to cover the consumption of 460,000 German households.
It has been selling its ouput under a 20-year contract with power purchase agreement (PPA) and has an operation and maintenance (O&M) agreement with Ørsted.
Country updates
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September 24, 2020
Prime Capital concludes debt financing for 579 MW European solar portfolio
Prime Capital AG has completed junior debt financing for a European photovoltaic portfolio of the independent power producer MKM Invest Group, which was arranged with ENERPAZ.
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September 11, 2020
juwi starts operation of 16.5 MW Rosskopf wind project in Hesse
German renewables developer Juwi AG has started the operation of the 16.5 MW Rosskopf wind farm project located between Frankfurt and Würzburg in the Main-Kinzig district of Hesse in Ge...
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September 04, 2020
Statkraft, Naturstrom sign 50 MW PPA for 100 MWp Schornhof solar PV project in Berg im Gau
Statkraft and Naturstrom AG have signed an 11-year power purchase agreement (PPA) that involves the 100 MW Schornhof solar PV project in Germany. Naturstrom will offtake the 50 MW portion of the EUR...
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August 20, 2020
Vestas to deliver turbines for 34 MW Dreieck Spreeau wind project in Brandenburg
Vestas has received its second and final order for the 34 MW Dreieck Spreeau wind project, located in Brandenburg, eastern Germany. The 8 MW order, placed by project developer ABO Wind AG, comprises t...
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August 13, 2020
Siemens AG, Dragados, NKT acquires contract for TenneT's 900 MW BorWin5 HVDC offshore wind transmission project
TenneT has awarded the contracts to build converter stations on land and at sea, for the BorWin5, to the consortium Siemens AG / Dragados Offshore S.A, while NKT HV Cables AB has been awarded the...
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