Vattenfall Acquires Global Tech II Project

Vattenfall has acquired Global Tech II offshore wind project located in the German North Sea some 85 kilometres north of the island of Borkum.

The project is currently under development with up to 79 wind turbines in an area of 47 square kilometres. The realization of the project depends on obtaining a capacity contract in the tendering process with the first auction in March 2017 and the second auction in March 2018.

The Global Tech II project is owned by Northern Energy Global Tech II, which Vattenfall has acquired as of 5 August. The seller is Erste Nordsee-Offshore-Holding, a joint subsidiary of Austrian STRABAG SE and indirecly Etanax GmbH. The parties have agreed not to disclose the purchase price.

Gunnar Groebler, Senior Vice President and Head of Business Area Wind at Vattenfall, said: “With Global Tech II we also send a signal that we strongly believe in the German market. In particular we consider the new German tender system beneficial to the development of wind as it is more cost efficient, which will also lead to further acceptance of this effective and renewable power generation.”

Photo: Image: STRABAG OW EVS

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