EnBW Seeking He Dreiht Insurer
EnBW has opened an application period for insurance companies who wish to bid to provide an Insurance Package Policy for the 960 MW He Dreiht offshore wind farm in Germany.
The developer is looking for Construction & Operation All Risks (CAR/OAR) insurance for the 64-turbine offshore wind farm, including, but not limited to, foundations and inner-array cables (no offshore substation).
The Insurance Package Policy consists of two phases: the construction phase, for which EnBW is looking to sign a CAR Property Damage and Third Party Liability (TPL) Project Package Policy, with an option for Delay-in Start-up (DSU) Insurance; and the operational phase for which the developer is procuring OAR Property Damage (PD) and, optionally, Business Interruption (BI) Policy.
The insurance policy is foreseen to start in February 2023.
Offshore activities are scheduled to start in April 2024 and the CAR coverage is expected to cease in March 2026. OAR coverage will automatically follow and last for two full calendar years, and is expected to end on 31 December 2028.
Insurers can apply for the tender until 1 July and selected candidates will be invited to participate later that month. Insurers will also be invited to an Insurer Day that will take place in Hamburg in August, before EnBW makes the final selection in January 2023.
He Dreiht is located within the German Exclusive Economic Zone (EEZ) of the North Sea, about 85 kilometres north of the Borkum Island and 95 kilometres west of the Helgoland Island.
EnBW secured rights to develop the 900 MW offshore wind farm in April 2017 by placing a zero-subsidy bid in the first competitive tender in Germany and expects to start offshore works in the first quarter of 2024.
The offshore wind farm, which will feature Vestas 15 MW turbines, is scheduled to be fully commissioned by the end of 2025.
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