Van Oord and Highland Group Holdings Ltd. have signed a cooperation agreement for the development, financing and construction of the offshore wind farm Deutsche Bucht in Germany.
The two companies intend to participate in the equity for the offshore wind farm. Financial close is scheduled for the first half of 2017, the offshore installation is envisaged to start in the second half of 2018 and the Deutsche Bucht offshore wind farm will be commissioned in 2019.
Van Oord will carry out the Balance of Plant for the project, which consists of the engineering, procurement and construction of the foundations, inter-array cables and the offshore substation.
The 252MW project is located in the German Bight, approximately 90 km from shore.
In 2012, Windreich AG sold Deutsche Bucht project to Highland Group Holdings. Two years later, K2 Management was appointed as Project Director.