EnBW Energie Baden-Württemberg, Allianz, AIP Management and Norges Bank Investment Management have inaugurated the He Dreiht offshore wind farm in the German North Sea. The wind farm has 64 turbines with a combined capacity of 960 MW.
The turbines are being connected to the grid individually, followed by testing and commissioning. The first turbines are already supplying electricity, with full operation expected in the coming months.
He Dreiht was built without state funding and is financed through long-term power purchase agreements (PPAs). Around €2.4 billion is being invested in the project.
EnBW was awarded the project in Germany’s first offshore wind auction in 2017 without a claim to state funding. It holds a 50.1% stake through a project company, while the remaining 49.9% is held by a consortium comprising Allianz Global Investors on behalf of Allianz entities, AIP Management and Norges Bank Investment Management.
Companies including Evonik, Google, PASM, Fraport, Bosch, Salzgitter, SHS Stahl-Holding Saar, Deutsche Bahn and DHL Group have signed PPAs for electricity from the wind farm, providing long-term price and planning certainty.
Image: EnBW - Rolf Otzipka
