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Germany awards €3 billion in offshore wind energy contracts

By: Chloe Emanuel 24/06/2024 The Federal Network Agency

General Windfarms

The Federal Network Agency has announced the results of the latest offshore wind energy tenders, awarding contracts worth a total of €3.0225 billion. The dynamic bidding process focused on two sites in the North Sea, totaling 2,500 MW, which will contribute significantly to Germany's renewable energy targets.

Offshore Wind One GmbH secured the contract for area N-11.2 with a bid value of €1.305 million per MW, amounting to €1.9575 billion. EnBW Offshore Projektgesellschaft 1 GmbH won area N-12.3 with a bid value of €1.065 million per MW, totaling €1.065 billion. The projects, located about 120 km northwest of Heligoland, are set to begin operations in 2031.

Klaus Müller, President of the Federal Network Agency, stated, "The results show the attractiveness of investing in offshore wind energy in Germany. They are another important step towards achieving the offshore expansion targets."
The dynamic bidding process, conducted online, was necessary due to multiple zero-cent bids for both areas. After several rounds, the highest bidders were awarded the contracts. Offshore Wind One GmbH's area saw 46 rounds, while EnBW's area had 55 rounds.

Proceeds from the tenders will primarily reduce electricity costs, with a portion allocated to marine protection and environmentally friendly fishing. Payments for marine protection are due within a year, while electricity cost reductions will be distributed over 20 years starting from 2031.

Further details can be found on the Federal Network Agency's website.

For more information about offshore wind farm projects across the globe, click here.

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Germany awards €3 billion in offshore wind energy contracts

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