Northland Power Preparing Bid for German Offshore Wind Sites
Northland Power is preparing to bid in the ongoing offshore wind tender in Germany for the N-3.8, N-3.7, and O-1.3 offshore wind areas.
Northland Power holds a step-in right for N-3.8, the former Nordsee 2 offshore wind farm area, which means it has pre-emption rights in the tender.
To remind, the Canada-headquartered company is the owner of the 332 MW Nordsee One offshore wind farm, which started commercial operation in December 2017.
Green Giraffe is assisting with financial modeling and the structuring of the financing and offtake of the planned bid.
Germany’s Federal Network Agency (Bundesnetzagentur) opened tenders for the three new offshore wind sites on 26 February.
The N-3.7 and N-3.8 sites are located some 30 to 40 km north of the island of Borkum in the North Sea and can accommodate a total installed offshore capacity of 658 MW. The O-1.3 area in the German EEZ of the Baltic Sea is located about 40 km northeast of the island of Rügen and can accommodate 300 MW.
The tenders are open until 1 September, with the maximum value of bids limited to 7.3 Eurocents per kWh. The wind farms to be developed under this tender must be up and running in 2026.