Ørsted takes final investment decision for 1.14 GW offshore wind farms in Germany

Ørsted has taken the final investment decision (FID) on the two German offshore wind farms Gode Wind 3 and Borkum Riffgrund 3 which are expected to be commissioned in 2024 and 2025, respectively.

Borkum Riffgrund 3 and Gode Wind 3 will have export capacities of 900 MW and 242 MW, respectively, and will be located in the German North Sea.

The power from both projects will be generated by Siemens Gamesa offshore wind turbines, each with a capacity of 11 MW and a 200-metre rotor diameter. Ørsted has signed CPPAs on Borkum Riffgrund 3 for a total of 786 MW with Covestro (100 MW), Amazon (350 MW), REWE Group (100 MW), BASF (186 MW), and Google (50 MW) to support the final investment decision by creating a large degree of revenue certainty for Borkum Riffgrund 3.

With bids of EUR 0 per MWh, Borkum Riffgrund 3 was the world's first large-scale offshore wind farm to be awarded with a zero bid whereas Gode Wind 3 will receive a weighted average subsidy of EUR 81 per MWh.