The 288 MW Butendiek offshore wind farm located within the German North Sea has secured a second long-term Energy Buy Settlement (PPA).
Below the brand new settlement, BKW Energie AG, a Swiss vitality utility, will buy 18 per cent of the wind farm’s whole manufacturing, equal to over 200 GWh yearly, over the long-term.
Amanda Niklaus, Head of Renewables PPA Origination at BKW Energie AG, mentioned: ”We’re delighted to have secured this PPA with OWP Butendiek, which supplies us entry to a big and reliable supply of renewable vitality. This PPA permits us to develop our renewable vitality portfolio and supply our prospects with clear electrical energy.”
The settlement, facilitated by market intelligence, software program and advisory enterprise Pexapark, marks the second PPA secured by Butendiek in current months, the primary being introduced with a multinational offtaker in October 2023 to provide inexperienced hydrogen manufacturing.
Björn Nullmeyer, Managing Director at wpd and Butendiek’s Director, mentioned: ”We’re happy to substantiate this second PPA for Butendiek, locking down a safe long-term income stream for the venture. These offers show how offshore wind energy, an important part of Europe’s inexperienced vitality transition, can maintain its success past tariff intervals.”
Collectively, the 2 agreements, which begin in July 2024, account for 80.5 per cent of Butendiek’s whole manufacturing capability, with the remaining portion of capability persevering with to commerce on the service provider market, benefitting of the German EEG scheme, OWP Butendiek mentioned.
In response to Pexapark, which supported each agreements, the post-subsidy renewables market requires buyers to construct refined vitality buying and selling methods as a rising variety of belongings transition away from EEG subsidies within the foreseeable future. That is important for navigating market volatility, streamlining operational administration and boosting profitability.
Mathieu Ville, Head of PPA Transactions, Pexapark, mentioned: ”This PPA is one other step in the correct route for the German wind trade, because it demonstrates that current offshore wind belongings can obtain enticing upside on their post-EEG funding case, by leveraging the PPA market. We sit up for working with extra producers and offtakers throughout Europe that wish to optimise their income streams as these subsidies are regularly stepping down.”
Butendiek, situated 32 kilometres off the island of Sylt, and 53 kilometres from the German mainland, is owned by a consortium consisting of CITIC Pacific Restricted, Industriens Pensionsforsikring, ITOCHU Company, Greencoat Renewables, Octopus Power Era, and wpd.
The wind farm consists of 80 Siemens wind generators with a capability of three.6 MW every. Building began in early 2014 and the wind farm was accomplished in 2015, offering the equal of 370,000 households with renewable vitality.
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